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Favorable Job Picture

Click to see original imageUtah, and particularly Utah County, can be quite proud of its growth and statistics in the employment-unemploymentlabor market category. The low unemployment rates in both the county and the state may not lead the nation, but they certainly remain up among the leaders. Month after month, for the past couple years, these statistics continue to reveal bright reports on what’s happening in the labor market in this area of the nation. These facts certainly speak well of the attractiveness of this area to new businesses and workers who have come here, and the stability of others who have been here over long periods of time. In addition, these statistics provide a fine commentary on the leadership roles that have been assumed by our various local and state public officials, even though the persons who hold the public offices involved may change from election to election. Their tasks and efforts to provide some orderliness to this growth are seldom easy. So let’s review some of these statistics that warrant such plaudits. In the December report on Utah County’s labor market, the seasonally adjusted unemployment rate was 4.7 percent, which remained the same as the November rate. For comparison, the unemployment rate for the state was 4.8 percent while the nation was reported at 6.1 percent. Although Utah County’s December statistics included 500 more unemployed workers, it was pointed out that most of these involved construction and related work concerning projects that have been shut down by cold weather. . . The Utah County report added that the big news for December was in the labor force which exploded to an all-time high of 80,300 workers – 6,500 more than in December of 1977 and representing an annual increase of 8.8 percent. in addition, the local office of the Utah Department of Employment Security reported: “Increases occurred in every segment of the economy with agriculture being the leader with 17 percent, followed by construction which increased by 12.5 percent.” These statistics prompted the local Job Service office to add: “Growth of this magnitude is far above normal and further manifests the 12,000 population increase. During the past 12 months 5,270 new jobs have been created, providing employment for the many new people moving into the area.” On the state level, last month’s unemployment rate of 4.8 percent compared to 5.0 in December of 1977. The state report added that Utah ended 1978 with an average jobless rate of 4.9 percent. The state employment office also said that year-long increases of 10 percent or more occurred in the number of jobs in construction, electrical machinery, transportation, wholesale trade, retail building materials, medical and other services and local government industries. Even on the national scene, despite some gloomy economic forecasts the economy picture appears to be somewhat brighter than previously indicated. According to a survey of 6,000 major employers, conducted by Manpower Inc., a seasonal slowdown – but no hiring recession is expected during the first three months of this year. The survey statistics, as published by the large temporary employment firm, show 24 percent of the major employers indicating they expect to increase their work-force during the first quarter of this year; that 59 percent expect to remain the same, and that only 14 percent anticipate reductions while 3 percent are unsure which way hiring will go. “Much more hiring pessimism would be expected if a recession 1 were imminent in the first half of , 1979,” concluded Manpower Inc. . President Mitchell Fromstein. l These statistics seem to indicate, particularly in Utah and E Utah County – except for such – problems as inflation – that our economy has considerable – stability as we move forward into i 3 1’lCW year.