Overall unemployment rate stayed flat at 1.2% with the biggest shift in Education & Healthcare, which lost 2,300 roles, based on the most recently available information published in February 2022.
Total employment in the Provo-Orem, UT market declined by 3,419 jobs in December and the unemployment rate stayed flat. The national unemployment rate decreased by 20 bps over the same time to 3.7%.
- Provo-Orem, UT unemployment rate is 249 bps below the national rate which is a positive sign.
- Unemployment in the market is 130 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) declined in December versus prior month by -2.9% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.3%. Key sectors include:
- Education & Healthcare: 56,400; -2,300
- Transportation & Utilities: 52,500; +900
- Business Services: 43,900; -500
- Government: 35,000; -300
- Construction, Mining: 28,200; +300
- Restaurants & Hotels: 24,700; +1,200
- Manufacturing: 21,600; -200
- IT & Development: 14,700; no change
- Financial Services: 13,100; +200
- Other Jobs: 6,400; -100
Data is based on the most recent 12 months available, through December 2021 (Data published February 2022 and reports created on February 4, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.