Salt Lake Tribune
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Utah job growth leveling off, but stays ahead of U.S. rate
This is an archived article that was published on sltrib.com in 2008, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

Posted: 11:36 AM- Utah's job growth in the year that ended in April slipped to 2 percent, down only slightly from 2.1 percent in March but continuing a pattern of decline.

The state created 24,800 jobs in the period, but its job-creation rate is down sharply from a peak nearly two years ago. In the period, which ended June 30, 2006, the state's economy added 54,000 jobs, for an employment growth rate of 5.4 percent.

Even with the slowdown, job growth in Utah remains well above the U.S. rate of 0.3 percent.

Utah's employment growth is slowing down in great part because of the sharp downturn in the residential real estate market along the Wasatch Front. As home sales have declined from a blistering pace, people working for home builders, mortgage and title companies, and other companies related to real estate have lost jobs.

Utah's unemployment rate was a low 3.1 percent in April, down from 3.3 percent in March and lower than the U.S. unemployment rate of 5 percent. About 42,700 Utahns were considered unemployed in April.

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