Overall unemployment rate moved up to 1.9% with the biggest shift in Construction, Mining, which gained 1,100 roles, based on the most recently available information published in December 2022.
Total employment in the Provo-Orem, UT market rose by 387 jobs in October and the unemployment rate increased compared to the prior month by 20 bps to 1.9%. The national unemployment rate increased by 8 bps over the same time to 3.4%.
- Provo-Orem, UT unemployment rate is 150 bps below the national rate which is a positive sign.
- Unemployment in the market is 10 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) grew in October versus prior month by 6.7% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.5% . Key sectors include:
- Education & Healthcare: 64,600; +600
- Transportation & Utilities: 52,300; no change
- Business Services: 42,700; +300
- Government: 34,900; +100
- Construction, Mining: 34,500; +1,100
- Restaurants & Hotels: 26,200; no change
- Manufacturing: 22,300; -300
- IT & Development: 16,000; -200
- Financial Services: 12,900; no change
Data is based on the most recent 12 months available, through October 2022 (Data published December 2022 and reports created on December 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.