Utah In The Middle Of The Pack For Job Opportunities

If you listen to the day to day reports coming out from our state leaders and local media, you would easily assume that our economy in Utah is in pretty good shape, and in the annual report to the governor for 2024, the Utah Economic Council did predict continued growth for the year, but at a slightly slower pace from the previous year.

You don't have to do a lot of research to see that our population is increasing here in Utah. And we have a lot to offer those looking to become residents here. As people turn away from the wearisome lifestyle attached to major population centers, Utah can certainly look attractive. And while many can move here and can continue with their same income by working remotely, what about those coming to Utah to find employment?

In the jobs report issued for the nation today, it showed that the country only added 12,000 jobs for October, the lowest number in 4 years. And while things seem relatively stable here in Utah, there are a few indications that may be discouraging to people seeking work in the Beehive State.

WalletHub conducted a study to rank the best states for job seekers by analyzing 50 states across 34 indicators of job market strength and economic health. Recognizing the challenges of job hunting, WalletHub aimed to simplify the search by identifying the most attractive states for employment based on factors like job opportunities, income, commute times, and economic stability.

To put it mildly, Utah was, at best, mediocre in the ranking, showing up at the 22^nd best state to find employment. If it's any consolation, we were better than any states that we border with except Colorado which came in slightly higher at number 18.

To determine rankings, states were evaluated across two major dimensions: Job Market (weighted more heavily due to its significant impact on job-seeking decisions) and Economic Environment. Metrics such as job growth, unemployment rates, underemployment, industry variety, job security, and AI risk were assessed to gauge job market conditions. Factors like employment benefits, non-discrimination laws, and protections for workers, including job flexibility and sick leave policies, were also considered.

The economic environment dimension included metrics such as median income adjusted for cost of living, starting salaries, poverty rates, workweek length, and commute times. Additionally, the presence of state tax credits, income tax burdens across different income levels, and rankings for working parents influenced scores. WalletHub used these combined metrics to calculate a weighted score for each state, ultimately ranking them to reveal the most favorable states for job seekers.

In the category of employment growth, Utah was dead last at number 50. But there were a couple of bright spots int the results. Believe it or not, Utah had the second highest median annual income in the country.

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And Utah was on top in the time spent working category coming in with the shortest time spent working. I'm guessing my boss would be in full agreement with that.