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Utah Continues to Lead
Posted on November 15th, 2016
Robert Spendlove, senior economist for Zions Bank, said earlier this week that Utah's economy is "firing on all cylinders." At a meeting in Cache County, which has the lowest unemployment rate in the state, Spendlove addressed various business and political leaders on the state of Utah's economy.

He said that numbers are slowly but steadily reaching pre-recession levels, with u nemployment levels in Cache, Rich and Box Elder counties are very low. The national rate is 4.4%, but Cache County's at 2.8%, the lowest in Utah. Unemployment rates for Box Elder and Rich counties are also very low.

While that is very good for the economy, he said it also poses some challenges: "What that reflects is a very tight labor market. Job growth is so strong and plentiful. It really is kind of a struggle. When you have unemployment so low, it's great for the economy, but it can also constrain the economy. We're hearing quite a bit about labor shortages."

He also said that one of the areas facing the greatest shortage right now is in the building industry. He says the demand on qualified workers has slowed construction growth because there aren't enough of them.

Once again, there is proof that NOW is the time to come back to the construction industry. We need skilled workers and licensed contractors to keep up with the demand and to keep Utah's economy growing. If you left during the recession, let us help you make your comeback. If you're thinking about a career in construction, we'd be happy to help you understand why that would be a very good choice. Call UTCLC and find out how we can help you fill in the shortages that are out there.
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