Overall unemployment rate moved down to 2.3% with the biggest shift in Restaurants & Hotels, which lost 800 roles, based on the most recently available information published in June 2021.
Total employment in the Provo-Orem, UT market rose by 4,504 jobs in May and the unemployment rate decreased compared to the prior month by 10 bps to 2.3%. The national unemployment rate decreased by 25 bps over the same time to 5.5%.
- Provo-Orem, UT unemployment rate is 320 bps below the national rate which is a positive sign.
- Unemployment in the market is 330 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) declined in May versus prior month by -0.3% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.2% . Key sectors include:
- Education & Healthcare: 56,400; +100
- Transportation & Utilities: 47,800; +700
- Business Services: 44,100; +200
- Government: 34,200; +400
- Construction, Mining: 25,800; +200
- Restaurants & Hotels: 22,400; -800
- Manufacturing: 20,800; -100
- IT & Development: 13,900; -100
- Financial Services: 12,300; +200
- Other Jobs: 6,100; -100
Data is based on the most recent 12 months available, through May 2021 (Data published June 2021 and reports created on June 30, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.