Latest Research
September 2020 Economic Summary
Utah’s nonagricultural employment decreased by an estimated 1.6%, or 25,300 jobs, between August 2019 and August 2020. Nationally, employment decreased by 7.0%, or 10.5 million jobs, between August 2019 and August 2020.
The State of Utah’s Travel and Tourism Industry, 2019
Travel and tourism is one of Utah's top ten industries, supporting one in 11 Utah jobs and generating over a billion dollars in state and local tax revenue annually.
The State of Utah’s Travel and Tourism Industry, September 2020 (Tri-Fold Brochure)
In 2019, travelers and tourists spent a record $10.06 billion in Utah. Nonresident visitors spent $8.62 billion of that, with the largest shares spent on transportation (including gasoline purchases, car rentals, transportation fares, and parking), lodging, and dining. Additional nonresident visitor purchases included retail and groceries, as well as arts, entertainment, and recreation–related activities.
Informed Decisions 2020 Election Brief
In this INFORMED DECISIONS™ election brief, we share insights in three areas of critical concern to Utahns: education funding, housing affordability, and the impact of COVID-19 on Utah’s economy. We will also host forums and candidate discussions as a companion to this research.
What’s Keeping Utah’s Real Estate Market Hot in the Time of COVID?
The recent global health pandemic has shaken the foundation of our everyday lives and likely forced cultural shifts that will stay with us for a long time. Every part of the economy has been impacted to different degrees. While the economy fell into a record recession and experienced all-time high unemployment, Utah’s construction industry set a record for the first six months of the year.
Ivory-Boyer Construction Report, 2nd Quarter 2020
The momentum of a record-setting first quarter continued into the second quarter of the year. While COVID-19 ravaged the economy and led to all-time high unemployment, construction activity held on. Total permit-authorized construction value in Utah during the first half of 2020 is $4.8 billion, a slight increase of 0.4% over last year and a year-to-date record (see Table 1 and Figure 1). While both residential and nonresidential construction value decreased slightly, the 19.0% increase in additions, alterations, and repairs made sure construction value for the first two quarters of 2020 remained nearly identical to 2019. Total permitted residential units[...]
Utah State and County Annual Population Estimates by Single-Year of Age, Sex, and Race/Ethnicity: 2010-2019
Utah’s population continues to diversify. Between 2010 and 2019, the share of the population identifying as minority (something other than non-Hispanic White alone) increased from 19.5% to 22.2%. But the patterns are different at the county level. In 2019, the minority share of each county ranged from 5.6% in Morgan County to 55.5% in San Juan County.
August 2020 Economic Summary
The impact of COVID-19 has significantly affected U.S. employment, GDP, and other economic factors. This report includes data from the first and second quarters of 2020 which reflect these effects. While the Utah economy has not escaped these unique circumstances, the state has fared better compared with national average metrics.
An Economic Analysis of Utah’s Industrial Banks (Snapshot)
Industrial banks have a significant economic presence in Utah, the nationwide center for this banking segment with a 110-year history. The state’s current and former industrial banks pay above average wages and make community investments. In 2019, current industrial banks’ economic impacts included 6,468 instate jobs in all major sectors, $722.0 million in state GDP, and $32.0 million in state and local tax revenue in Utah.
An Economic Analysis of Utah’s Industrial Banks
Industrial banks generate substantial economic benefits in Utah, the nationwide center for this banking segment with a 110-year history.