Calendar year 2011 marked the first full year of economic recovery in Utah from the Great Recession’s employment trough of mid 2010. All industrial sectors save construction showed employment gains for the year. Construction’s 50-job loss for 2011 is nominal and shows that even this hard-hit and recession-centered industry is reaching its final resting point for the recessionary slide.Utah added nearly 27,000 jobs to its economy during 2011. This represents an employment growth rate of 2.3 percent. It also marks the first full year of employment growth in three years, following two prior years of job losses in Utah and an additional year with no job growth. Still, employment levels remain 43,900 below the pre-recession peak employment of 2008.
Utah added nearly 27,000 jobs to its economy during 2011. This represents an employment growth rate of 2.3 percent. It also marks the first full year of employment growth in three years, following two prior years of job losses in Utah and an additional year with no job growth. Still, employment levels remain 43,900 below the pre-recession peak employment of 2008.
Utah’s labor force participation rate has fallen from 72 percent prior to the recession to 66 percent by late 2011. This is a significant decline; one of the highest in the nation. The most obvious aspect of this decline is the cyclical job losses and job stagnation of the recession, but additionally the youthful makeup of Utah’s labor force. Younger workers tend to be more adept at exiting the labor force for short durations than are older workers who may need to keep seeking work to support a family.
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