Utah's economy picked up steam in July, adding even more jobs to the work force and dropping unemployment to far below the national average, according to figures released today by the Utah Department of Workforce Services.
Utah's overall job growth for July was an impressive 3.5 percent, more than double the national average. Unemployment over the same period fell to 4.6 percent, 2.8 percent below the national rate of 7.4 percent.
"July's numbers are heartening and indicate the pulse of Utah's economy remains strong and is getting stronger," said Utah Governor Gary R. Herbert. "Our economy has hardly skipped a beat, thanks to our commitment to free market principles, instilling certainty and confidence in the business community and growing jobs in the private sector.
"Moreover, our economic prowess has not escaped attention," the Governor continued. "Everywhere I go, from Capitol Hill in Washington to the National Governors Association meetings in Wisconsin, people are talking about our state's enduring and enviable success and trying to decide how they can implement the proven principles that are powering our economy in their own states."
Since July 2012, 43,300 jobs have been created in Utah. Private sector job growth in Utah over that same period was a robust 4.5 percent. The largest gains have been made in the trade, transportation and utilities sector, but the job gains have been impressive across most of the spectrum.
"The July results demonstrate Utah's economic expansion is continuing on course, with broad-based growth throughout the private sector," said Juliette Tennert, chief economist at the Governor's Office of Management and Budget.