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Good Utah Economic Signs

Click to see original imageEconomically – speaking, things seem to be faring rather well in Utah, judging by a few recent items in the news. For example, the state’s unemployment rate continued downward in July, with nearly 25,000 new jobs created in the past year, The jobless rate dropped to a seasonally adjusted level of 5.1 percent for the month, down from 5.2 percent in June and considerably under the 5.7 percent figure for July of 1977. Only seven states had lower unemployment rates than Utah in May, a State Employment Security Division spokesman said, quoting a Bureau of Labor Statistics report. The state agency said 513,700 persons were employed in non agricultural jobs in Utah during July, up 24,900 from the same month in 1977. Building activity continues at a brisk pace. Here in Provo the city issued 87 permits for $4,041,165 in new construction in July. This compared with 62 permits for $1,538,981 for the same month a year ago. Provo and Orem, among other areas in the state, are notching up impressive growth. A published table attributed to Sales & Marketing Management, projects Provo – Orem and environs as one of the faster – growing “metro” areas in the country for the five year period ending in 1981. Still another optimistic report comes from the First Security Bank News Letter, which bases a forecast of continued economic strength on factors of employment growth; gains in the mining, manufacturing and other industries ; petroleum exploration ; residential construction activity ; gains in retail sales ; outlook for consumer spending in the face of a sustained climb in employment; and other indicators. Withal, the picture looks hopeful, despite tempering inflation, growing tax burdens, and a number of negative factors in thqq national economic picture. Q Not For The Compucf Crowd At $55,900 for the cheapest – if that is the word – model, the Rolls-Royce is not one of your big sellers in the auto line. Americans purchased a grand total of 1,129 last year. Which is why the National Highway Traffic Safety Administration feels safe in exempting the British luxury car from U.S. mileage requirements of 18 miles per gallon. The Rolls averages 10.9 miles. Money talks again – but in this case there’s hardly anybody around to listen.