Overall unemployment rate moved up to 2.9% with the biggest shift in Construction, Mining, which lost 3,000 roles, based on the most recently available information published in March 2021.
Total employment in the Provo-Orem, UT market declined by 2,807 jobs in January and the unemployment rate increased compared to the prior month by 10 bps to 2.9%. The national unemployment rate increased by 31 bps over the same time to 6.8%.
- Provo-Orem, UT unemployment rate is 391 bps below the national rate which is a positive sign.
- Unemployment in the market is 40 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) grew in January versus prior month by 2.5% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -2.4%. Key sectors include:
- Education & Healthcare: 52,000; -400
- Transportation & Utilities: 47,200; -2,400
- Business Services: 43,300; +500
- Government: 33,000; -500
- Construction, Mining: 23,600; -3,000
- Restaurants & Hotels: 22,700; -400
- Manufacturing: 20,300; -300
- IT & Development: 13,400; +200
- Financial Services: 11,800; -400
- Other Jobs: 6,100; no change
Data is based on the most recent 12 months available, through January 2021 (Data published March 2021 and reports created on March 25, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.