Overall unemployment rate moved down to 2.3% with the biggest shift in Education & Healthcare, which gained 400 roles, based on the most recently available information published in May 2023.
Total employment in the Provo-Orem, UT market rose by 2,396 jobs in March and the unemployment rate decreased compared to the prior month by 10 bps to 2.3%. The national unemployment rate decreased by 27 bps over the same time to 3.6%.
- Provo-Orem, UT unemployment rate is 132 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) grew in March versus prior month by 2.6% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs stayed flat. Key sectors include:
- Education & Healthcare: 64,100; +400
- Transportation & Utilities: 47,200; +200
- Business Services: 45,600; -200
- Government: 36,500; -200
- Construction, Mining: 31,000; +300
- Restaurants & Hotels: 26,600; -200
- Manufacturing: 23,800; +200
- IT & Development: 14,300; -100
- Financial Services: 12,800; -100
- Other Jobs: 7,000; -200
Data is based on the most recent 12 months available, through March 2023 (Data published May 2023 and reports created on May 9,2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.