Utah's encouraging economic indicators continue to be some of the best in the nation. With the release of February's employment data, Utah's job growth surged upward to 4%, more than 2.5 times higher than the national rate of 1.5%. Utah's unemployment rate also dropped to 5.2% from its previous 5.4%.
Governor Gary R. Herbert issued the following statement:
Utah has added back all the jobs lost during the recession, and our economy is growing faster than historical norms. Though we still face some real challenges, especially on the national scene, we can definitely say Utah is no longer in a state of recovery-we are firmly on the road to prosperity.
We recognize our work is not yet finished, but we can celebrate steady success. We set a goal to create 100,000 jobs in 1,000 days, and we are well on the way to that goal. I remain fiercely focused on growing Utah's economy for the many Utahns still seeking work and economic security for their families.
Juliette Tennert, Chief Economist for Governor Herbert, said Utah has effectively recovered from the recession.
"Based on the job count, Utah has recovered from the recession, and we are still making strides in the unemployment situation," Tennert said. "Total employment for February 2013 measured 1,267,900, surpassing the previous peak of 1,248,000 jobs in February 2008, when the recession had begun to take hold."