Although not all of the county’s remaining economic indicators fell right in line, they generally point to an expanding economy. Here’s the rundown:
- Between March 2012 and March 2013, Beaver County’s nonfarm employment expanded by a whopping 10 percent for a gain of more than 200 jobs.
- More than half of these new positions occurred in mining.
- However, even without the new mining positions, employment growth would still prove healthy and broad-based.
- Leisure/hospitality services, utilities, government, construction, manufacturing and covered agriculture (not included in the total) each added at least ten net new jobs.
- With such strong expansion on the employment side, a lower unemployment rate for the county is almost a given. In June 2013, Beaver County’s unemployment rate measured 4.7 percent—equal to the relatively low Utah figure.
- Beaver County’s jobless rate has dropped by more than a full percentage point since June 2012.
- First-time claims for unemployment insurance are trending at pre-recession levels.
- Currently, the seasonal leisure/hospitality services industry sports the highest number of initial claims.
- On the heels of six years of declining home permits, home-building had yet to show any improvement in the first quarter of 2013. However, spring and summer months could still bring good news for residential construction.
- On the other hand, the value of nonresidential permits increased dramatically when the first quarters of 2012 and 2013 are compared. A number of “nonbuilding” permits contributed to this strong 190-percent gain.
- First quarter 2013 gross taxable sales did not join the economic party. However, the first quarter 2012 to first quarter 2013 decline measured a meager 0.3 percent.
