State ranks in top five for adding new jobs
This is an archived article that was published on sltrib.com in 2005, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

Utah's economy is adding jobs at the highest rate in seven years - 37,000 new positions in the year that ended May 31, for a job-growth rate of 3.4 percent.

Employers are adding new positions in all industrial areas, including education, health services, hospitality and construction, according to a state unemployment report released Tuesday by the Utah Department of Workforce Services.

Utah's job growth remains better than most other states, said Mark Knold, senior economist.

"We're in the top five and should stay there," he said.

Utah's unemployment rate in May was 4.9 percent, down 0.4 percent from one year ago. About 60,700 Utahns were unemployed in May 2005 compared with 63,300 in May 2004.

Knold said the numbers of Utahns who have stopped looking for a job during the recession are out looking for jobs now that the economy has improved, which tends to prevent the unemployment rate from dropping as dramatically as job growth is increasing.

Several high-paying industries, such as technology, continue to add jobs that are helping replace the thousands lost during the downturn.

"Utah's high-tech companies across the board are hiring," said Richard Nelson, CEO and president of the Utah Information Technology Association. "It's a far cry from even one year ago."

Low interest rates also continue to fuel employment growth in the construction industry, which offers moderate-paying jobs on both commercial and residential projects.

Knold said employment in several low-paying areas such as the retail industry is climbing as well. But that too is good news, he said.

"Sales clerks and retail sales people aren't paid particularly high wages," Knold said. "But we have to understand that these jobs do have value in the economy. If they didn't, they wouldn't get filled."

lesley@sltrib.com

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