Overall unemployment rate moved up to 2.0% with the biggest shift in Transportation & Utilities, which lost 2,000 roles, based on the most recently available information published in March 2022.
Total employment in the Provo-Orem, UT market rose by 4,553 jobs in January and the unemployment rate increased compared to the prior month by 80 bps to 2.0%. The national unemployment rate increased by 74 bps over the same time to 4.4%.
- Provo-Orem, UT unemployment rate is 243 bps below the national rate which is a positive sign.
- Unemployment in the market is 90 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in January versus prior month by 1.6% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.8%. Key sectors include:
- Education & Healthcare: 61,900; +1,900
- Transportation & Utilities: 51,400; -2,000
- Business Services: 41,300; -1,200
- Government: 34,400; -100
- Construction, Mining: 27,500; -300
- Restaurants & Hotels: 24,800; -600
- Manufacturing: 22,300; no change
- IT & Development: 15,900; no change
- Financial Services: 13,000; -200
- Other Jobs: 6,400; +100
Data is based on the most recent 12 months available, through January 2022 (Data published March 2022 and reports created on March 18, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.