Overall unemployment rate moved up to 1.9% with the biggest shift in Government, which gained 3,000 roles, based on the most recently available information published in September 2022.
Total employment in the Provo-Orem, UT market rose by 2,997 jobs in August and the unemployment rate increased compared to the prior month by 10 bps to 1.9%. The national unemployment rate stayed flat over the same time period at 3.8%.
- Provo-Orem, UT unemployment rate is 189 bps below the national rate which is a positive sign.
- Unemployment in the market is 60 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in August versus prior month by 5.6% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.0% . Key sectors include:
- Education & Healthcare: 58,300; +1,200
- Transportation & Utilities: 52,700; -500
- Business Services: 42,700; +400
- Government: 32,700; +3,000
- Construction, Mining: 31,800; -400
- Restaurants & Hotels: 27,200; -200
- Manufacturing: 22,700; -100
- IT & Development: 16,000; -300
- Financial Services: 12,700; -200
- Other Jobs: 6,600; no change
Data is based on the most recent 12 months available, through August 2022 (Data published September 2022 and reports created on September 28, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.