Utah's unemployment rate unchanged in June
(The Center Square) - Utah's unemployment rate held steady at 2 percent in June, the same rate as reported in May, according to the Department of Workforce Services.
The state's unemployment rate was 3.5 percent in June 2021.
The state added 56,300 jobs since June 2021, with 52,800 coming in the private sector. Trade, transportation and utilities experienced the biggest gain with 12,800 new jobs. The construction industry added 10,300 new jobs.
The state currently has 1,666,300 jobs according to the department.
The national inflation rate is at 9.1 percent and some are concerned that could weaken the economy, according to Mark Knold, Chief Economist at the Department of Workforce Services. That has not happened in Utah, he said.
"Job growth remains strong and the unemployment rate is very low and little moved across the past six months," Knold said in a news release. "New unemployment insurance claims remain tame. That measurement is oftentimes the first indicator that something is weakening in the economy. But again, largely no movement at all is happening there.”
The national unemployment rate is 3.6 percent.