Overall unemployment rate moved down to 1.2% with the biggest shift in Education & Healthcare, which gained 1,500 roles, based on the most recently available information published in December 2021.
Total employment in the Provo-Orem, UT market rose by 3,678 jobs in October and the unemployment rate decreased compared to the prior month by 20 bps to 1.2%. The national unemployment rate decreased by 30 bps over the same time to 4.3%.
- Provo-Orem, UT unemployment rate is 306 bps below the national rate which is a positive sign.
- Unemployment in the market is 160 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) declined in October versus prior month by -4.4% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.1% . Key sectors include:
- Education & Healthcare: 58,000; +1,500
- Transportation & Utilities: 50,700; +1,300
- Business Services: 44,300; no change
- Government: 35,400; +200
- Construction, Mining: 28,400; +100
- Restaurants & Hotels: 23,100; -200
- Manufacturing: 21,600; +100
- IT & Development: 14,500; +200
- Financial Services: 12,900; no change
- Other Jobs: 6,400; +100
Data is based on the most recent 12 months available, through October 2021 (Data published December 2021 and reports created on December 2, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.