Utah unemployment rate at 2% in May; National rate holds steady at 3.6%

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Utah unemployment rate at 2% in May; National rate holds steady at 3.6%
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JOBLESS RATE. Utah unemployment rate at 2% in May; National rate holds steady at 3.6%.

SALT LAKE CITY — Utah’s nonfarm payroll employment for May 2022 increased an estimated 3.5% across the past 12 months, with the state’s economy adding a cumulative 55,500 jobs since May 2021. Utah’s current job count stands at 1,662,300.

May’s seasonally-adjusted unemployment rate is estimated at 2.0%, with approximately 34,100 Utahns unemployed. April’s unemployment rate remains unrevised at 1.9%. The May national unemployment rate held steady at 3.6%.“Utah’s economic performance continues to push along at a strong pace,” said Mark Knold, Chief Economist at the Department of Workforce Services. “The unemployment rate remains at an historically low level, and job growth is still one of the nation’s best.

Utah’s May private sector employment recorded a year-over-year expansion of 3.7%, or a 50,100 job increase.Two private-sector groups saw job contractions:

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