Overall unemployment rate moved down to 2.2% with the biggest shift in Education & Healthcare, which lost 1,000 roles, based on the most recently available information published in June 2023.
Total employment in the Provo-Orem, UT market declined by 2,455 jobs in April and the unemployment rate decreased compared to the prior month by 10 bps to 2.2%. The national unemployment rate decreased by 53 bps over the same time to 3.1%.
- Provo-Orem, UT unemployment rate is 90 bps below the national rate which is a positive sign.
- Unemployment in the market is 20 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) declined in April versus prior month by -1.2% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.2%. Key sectors include:
- Education & Healthcare: 63,200; -1,000
- Transportation & Utilities: 46,700; -400
- Business Services: 46,100; +600
- Government: 36,700; +200
- Construction, Mining: 31,100; no change
- Restaurants & Hotels: 26,500; -100
- Manufacturing: 23,900; no change
- IT & Development: 14,300; -100
- Financial Services: 12,900; no change
- Other Jobs: 7,500; +300
Data is based on the most recent 12 months available, through April 2023 (Data published June 2023 and reports created on June 8,2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.