Jobless Claims Down in Utah In March

Apr 22, 2022

Following an article recently published on KSL.com, Utah recently discovered that jobless claims continue to decline as we progress through 2022. In fact, the nation’s jobless claims are at their lowest since 1970.

While this may seem strange given the pandemic and global recession, let’s dive into how jobless claims improved specifically for Utah.

A Decline in Jobless Claims

The decline in jobless claims can be largely credited to the state’s strong economy and low unemployment rate. Additionally, it’s noted that the state has been successful in attracting new businesses and industries, which has helped to create even more jobs. If you’ve noticed businesses popping up all over your city, you’re not alone.

Some of Utah’s strongest sectors in 2022 include:

  • outdoor recreation
  • tourism
  • technology

Above all, the technology industry is thriving in Utah. What was once dubbed the Silicon Slopes, Utah is now seeing tech companies popping up all over the state. From Salt Lake City to Lehi and Provo in Utah County all the way to Farmington, there are tech businesses in nearly every city in Northern Utah. And thankfully, these businesses have been able to provide hundreds(if not thousands) of jobs in the state.

Thriving Types of Tech Companies in Utah

Some of the most successful and thriving tech companies in Utah include Domo, Pluralsight, Qualtrics, and InsideSales.com. These businesses have all been major contributors to the state’s economy and have helped create thousands of jobs.

California’s Influence

Utah has also welcomed several new residents, most notably from California. This new influx of residents from other states is undoubtedly helping maintain the state’s economy. We also know that real estate continues to boom as home prices have been on a steady incline.

Surviving Global Recession

While Utah’s economy is not immune to the effects of the global recession, the state has been able to weather the storm better than most. And even at the height of the pandemic between 2020 and 2021, the state didn’t see a major incline in its unemployment rate. Given all of the factors that can affect a state’s economy, Utah experienced a very successful outcome.

The Future of Utah’s Economy

As we move into the future, it’s likely that Utah’s economy will continue to grow and thrive. With a strong focus on technology and innovation, as well as a diversified mix of industries, Utah is poised for continued success. Job seekers should keep an eye on the state’s economy, as it offers many opportunities for those looking for work. Also, keep an eye out for new businesses moving into the state. There’s a good chance your favorite tech company might be opening a new building in Utah sometime soon.