Monday, March 27, 2017

Utah's Seasonally Adjusted Unemployment Rates

Seasonally adjusted unemployment rates for all Utah counties have been posted online here.

Each month, these rates are posted the Monday following the Unemployment Rate Update for Utah.

For more information about seasonally adjusted rates, read a DWS analysis here.

Next update scheduled for April 24th.

Friday, March 24, 2017

Utah's Employment Situation for February 2017

Utah's Employment Situation for February 2017 has been released on the web.

Find the Current Economic Situation in its entirety here.

For charts and tables, including County Employment, go to the Employment and Unemployment page.

Next update scheduled for April 21st, 2017.

Wednesday, March 15, 2017

Dixie State wins funding for Human Performance Center

The just-concluded legislative session provided the approval needed for a major upgrade to the school’s sports stadium and a new Human Performance Center that will anchor the school’s health and fitness education pathway. DSU will probably begin breaking ground on the stadium project Aug. 1 with an expected completion date in March or April, making it available by the time students begin the new school year in the fall of 2018. The legislature appropriated $8 million for the Human Performance Center during the recent session.

The remainder of a total $25 million appropriation is expected next year. The building will facilitate exercise science and health-related studies for students seeking careers in those fields, but will also include locker rooms, an Olympic-sized pool for the women’s swim team, multiple basketball courts and other facilities that will be available to the public for recreation during the morning hours before classes and in the evenings until midnight, Williams told state Regents in September. The Spectrum

Proposal for offices latest in St. George Mall Drive area development

Developers are requesting a zone change to make room for new office buildings and commercial space on the northwest corner of the intersection of Mall Drive and 3000 East in St. George, the latest in a series of new construction projects on either side of a bridge across the Virgin River. The proposal, forwarded by the Suburban Land Reserve, a real estate arm of The Church of Jesus Christ of Latter-day Saints, would include multiple office buildings within 18 acres along the north side of Mall Drive and surrounding an existing church building, with another two acres set aside for either additional offices or retail businesses at the corner of the main intersection. The Spectrum

St. George commercial plans held up

City officials turned back a proposal to change the St. George general plan to include commercial and multi-family developments at the east end of the high-end Stone Cliff development. In the latest of a series of planning questions regarding the fast-growing areas along 3000 East in the Little Valley and Washington Fields areas, the council voted unanimously on the quasi-compromise after a lengthy discussion between developers and neighbors, most of whom said they were opposed to the proposal. The Spectrum

Kane County moving forward on Convention Center

Several governmental entities have partnered to build a convention center in Kane County. The county will own the new convention center to be located ‘on the bend’ in Kanab, on the site of the old middle school and old library.

Kane School District donated 13 acres and 42,000 square feet of buildings, in exchange for other real estate assets the county held. The school district’s only caveat or requirement on the property was that the gym remain open and available to the public.

The project is being run through the county’s Municipal Building Authority (MBA). The MBA applied for and received an $885,000 grant and a $2.2 million loan from the Community Impact Board last year. They are now going back to them to ask for an additional loan of $600,000. The total price tag of the project will be between $4.5-$4.7 million. Southern Utah News

Rocky Vista University in Ivins nears completion

Rocky Vista University’s for-profit osteopathic school on the southeast edge of the Denver metropolitan area announced plans to add a second campus in Ivins in October 2015 and began grading its 30-acre parcel at the intersection of Center Street and 200 East last March.

Shaw Construction expects to place facades within the next month on buildings that, for now, look more like burlap and boards, with plans to complete work by mid-June on the 104,000-square-foot school and office facility plus two on-campus residential apartment complexes. A third student apartment building will be completed a couple months afterward, with reserved plans for two more once they are needed.

A ribbon-cutting ceremony is planned July 14 followed by a public open house July 15, then student orientation on July 17 and the start of classes July 25 after the Pioneer Day holiday. The Spectrum

Tuesday, February 14, 2017

Better, Faster, Smarter . . .Check out our new website design

Information is the treasure of the current age. The instant access to information since the advent of the Internet has transformed societies in ways that thousands of years prior had not. Information can lead to knowledge, and — with increased knowledge — better efficiencies and way of life. If information is vital, then the presentation of information has also risen to a prominent level.
With this, the Utah Department of Workforce Services has made some organizational improvements to its economic webpages. Various economic data categories are not mutually exclusive, but we made an effort to compartmentalize economic data for a better organizational display and navigation. We also added a new feature area that taps into various national data elements and measurements from the Federal Reserve Economic Data (FRED), the database of the Federal Reserve Bank of St. Louis. FRED’s added value is national — and Utah — economic indicators. More on FRED’s contribution below.

Depending on the subject, economic data can be categorized as either broad or specific. For example, the demographic makeup of an area and how that impacts an economic structure is a broad-subject approach. Conversely, a current monthly snapshot of the Utah economy, its job growth and unemployment rate is a more specific observation. Our economic webpage has four “portals” through which to “categorize” and search for information. One portal is broad, while the other three are more specific in nature.

Topic Portals

The monthly employment profile just mentioned is a specific topic and gets its own “portal,” entitled Employment Update. Here, the most current Utah economic performance can be explored and summarized. The information found here is what often gets cited in the local news media in reference to the current Utah job performance and unemployment rate.

The second specific “portal” is labeled Local Insights. This is a quarterly profile of the Utah economy down to a county level. Each county is summarized with its own economic performance, including job growth, unemployment rate, housing starts, taxable sales and other profile variables. The common theme here is a county-specific approach.

The third specific “portal” is Reports and Analysis. Workforce Services’ economic forte is the labor market. Things over and above the everyday reporting on the labor market are presented here. Sometimes we do special economic studies, other times we will report on specific economic groups within the labor force, like women or veterans. Anything we do that is not an often repeated or ongoing report are grouped here.

The final “portal,” and possibly the one that will be most used, is labeled Economic Data. The core of our data collection and analysis is concentrated here. Employment data, occupational data, wage information and demographic profiles are just some of the major economic themes found in this area.

FRED's on site

As mentioned earlier, we have added an economic indicator area tapping into FRED, which is a massive compilation of economic data from various sources — primarily government statistical agencies, but also some nongovernmental organizations. Workforce Services economists have gone through the list and selected a handful of the most useful data series for gauging the performance of Utah’s macro economy and gaining insights into expected trends. Utah functions within the national economy, so the national economic indicators profiled here are intended to also be guiding influences on the Utah economy. These indicators include composite indexes; a recession probability indicator; leading indicators, such as construction permits and the yield curve; coincident indicators, such as real GDP and employment; and price indicators, such as the consumer price index, regional housing prices, and oil and gas prices. Each chart has a detailed description of what the data represent and how they may be useful.

Keeping relevant with the fast-changing pace of the Internet and data presentation is our goal at Workforce Services. We hope these changes help to better present our broad package of economic data offerings.

Wednesday, January 25, 2017

Charlotte Pipe expanding in Iron County

Charlotte Pipe is adding a 150,000 square-foot expansion to their Iron County facility, with the anticipation of 30 new jobs. The Spectrum