While there are over 14,000 fewer jobs in the state of Utah compared to one year ago, economists say things aren’t as bad as they may look. “Despite what the unemployment rate uptick may construe, Utah’s economic rebound continues,” reports Mark Knold, Chief Economist at the Department of Workforce Services. “Jobs continue working their way back across nearly all industry sectors; some faster than others. The unemployment rate rise, in part, reflects both people expiring their unemployment benefits and becoming aggressive in searching for a job. This increased job-search activity is reflected in the labor force participation rate, as it increased by more than a full percentage point over last month. More people are finding work and more people are looking for work.” September’s seasonally-adjusted unemployment rate for the state is 5 percent and the national unemployment rate is reported at 7.9 percent. Updated unemployment rates by county will be released this week.
