Friday, December 5, 2014

Juab County Economic Update

Economic conditions in the Mountainland Economic Service Area (Utah, Juab, Wasatch and Summit Counties) are positive with strong year-over job growth of 3.8 percent, or 8,717 new jobs from June 2013 to June 2014. In 2013, average payroll job growth in the region was a very rapid 5.2 percent above the average level of employment in 2012. There has been job increases in most major industry sectors with particular strength among construction, wholesale and retail trade, professional/technical services, food services and health care.
  • In the year ending June 2014, Juab County had a total of 3,294 nonfarm payroll jobs, 14 fewer than in June 2013.
  • Five industries lost 13 or more jobs, with the largest reductions, 86, in construction as a result of reduced commercial construction activity.
  • Manufacturing added 107 new positions, growing by 16.4 percent. Retail trade came in with the second highest number of new positions with 18. Five other industry subdivisions added new employment totaling 31 jobs.
  • In September 2014, the unemployment rate in Juab County was estimated to be 4.2 percent, down from 5.9 percent in September 2013. An estimated 183 workers were unemployed in September compared to 212 in September 2013.
  • Average annual job growth in 2013 was 6.3 percent or 193 new jobs above 2012. The 2014 overall job outlook indicates that Juab County will likely see net job reductions averaging between 20 and 90 positions.
Utah, Summit, Wasatch and Juab Counties’ robust job growth and favorable labor market conditions are expected to persist through the end of 2014 and continue through 2015. By September of 2014, the unemployment rate in Mountainland declined to a very favorable rate of 3.4 percent. Based on the strength of employment growth in recent years, job opportunities and low unemployment will continue to characterize this area.