Overall unemployment rate stayed flat at 2.4% with the biggest shift in Education & Healthcare, which gained 2,000 roles, based on the most recently available information published in April 2023.
Total employment in the Provo-Orem, UT market rose by 1,680 jobs in February and the unemployment rate stayed flat. The national unemployment rate increased by 3 bps over the same time to 3.9%.
- Provo-Orem, UT unemployment rate is 149 bps below the national rate which is a positive sign.
- Unemployment in the market is 60 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) grew in February versus prior month by 3.7% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.2% . Key sectors include:
- Education & Healthcare: 63,800; +2,000
- Transportation & Utilities: 46,900; -400
- Business Services: 46,200; +500
- Government: 36,700; +400
- Construction, Mining: 30,500; +200
- Restaurants & Hotels: 27,000; +800
- Manufacturing: 23,600; no change
- IT & Development: 14,200; no change
- Financial Services: 12,900; +100
- Other Jobs: 7,100; +100
Data is based on the most recent 12 months available, through February 2023 (Data published April 2023 and reports created on April 10, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.