Overall unemployment rate moved down to 1.8% with the biggest shift in Education & Healthcare, which gained 1,400 roles, based on the most recently available information published in April 2022.
Total employment in the Provo-Orem, UT market rose by 5,355 jobs in February and the unemployment rate decreased compared to the prior month by 20 bps to 1.8%. The national unemployment rate decreased by 28 bps over the same time to 4.1%.
- Provo-Orem, UT unemployment rate is 234 bps below the national rate which is a positive sign.
- Unemployment in the market is 130 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in February versus prior month by 0.9% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.6% . Key sectors include:
- Education & Healthcare: 63,500; +1,400
- Transportation & Utilities: 51,500; -300
- Business Services: 42,000; +600
- Government: 34,700; +300
- Construction, Mining: 28,300; +1,100
- Restaurants & Hotels: 25,900; +1,200
- Manufacturing: 22,500; +300
- IT & Development: 15,500; -100
- Financial Services: 13,100; +100
- Other Jobs: 6,500; +100
Data is based on the most recent 12 months available, through February 2022 (Data published April 2022 and reports created on April 6, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.