State DWS Chief Economist Comments on COVID-19 Impact
By Kristin Forbis, Mar 25, 2020
The Department of Workforce Services provided an update on the latest employment data which is a snapshot of February. Utah’s nonfarm payroll employment grew by 2.9 percent, adding 44,300 jobs to the economy since February 2019. February’s seasonally-adjusted unemployment rate was estimated at 2.5 percent with approximately 40,400 Utahns unemployed and seeking work in February. The national unemployment rate lowered to 3.5 percent. “February's employment profile is a strong bedrock for Utah's economy as we turn our attention to the anticipated impacts of COVID-19,” shares Mark Knold, Chief Economist at the Department of Workforce Services. “Across the past 10 years, the Utah economy has progressed to be in one of the healthiest and most enviable positions in the nation. Facing future uncertainties from a position of such strength is a major advantage for Utah.” Updated unemployment rates by County are expected to be released this week.