Latest Research
The Year in Charts: Utah’s Housing Market 2018
The Year in Charts summarizes the performance of Utah’s housing market in 2018. The following 25 charts provide a record of current conditions, show long-term trends, and highlight important changes underway in the both the home building and real estate markets. The charts are divided into two major groups: (1) Residential Construction and (2) Residential Real Estate Sales.
The Economic Impacts of Utah Retirement Systems Pension Payments in the State of Utah in 2018
Utah Retirement Systems (URS) administers defined contribution and defined benefit (pension) retirement plans for employees of 476 state and local government entities. This report examines the economic impacts of defined benefit pension payments made by URS to Utah residents in 2018, and compares these impacts with those estimated in 2015.
Ivory-Boyer Construction Report, Year End 2018
Utah’s construction activity in the fourth quarter of 2018 tapered off. However, due to a strong start in the beginning of the year, the statewide value of construction totaled nearly $8.5 billion, a 3.3 percent increase from 2017. Residential construction remained the driving force behind Utah’s construction industry, comprising 61 percent of the state’s total construction value in 2018. This year saw a 5.5 percent increase in the total number of residential units, with 24,241 units, the highest number of units in 12 years. Nonresidential construction remained above $2 billion for the year, for the fourth year in a row,[...]
February 2019 Economic Summary
The Utah economy exceeded expectations in 2018, adding a total of 48,500 new jobs over the year. An annual employment growth rate of 3.3% is on par with the state’s long-term average and is among the strongest in the nation. A tightening labor market (3.1 percent unemployment) applied upward pressure on personal income. Annual income per capita increased to $45,174, a 3.9 percent increase from last year.
Industry Snapshot: Utah’s Tech Industry
The tech industry develops digital platforms that enable the ubiquitous information economy. Tech companies provide software for many applications. They manufacture and distribute computers and devices used by individuals and organizations. The industry also encompasses e-commerce and IT support. This document and the companion research brief present preliminary results of the Kem C. Gardner Policy Institute’s research program for 2018 and 2019 on Utah’s innovation economy. We are preparing a more comprehensive report for publication in July 2019.
Summary Economic Impacts of Utah’s Tech Industry
The Utah State Legislature appropriated fiscal year 2019 funding to the Kem C. Gardner Policy Institute for a first-of-itskind economic study of Utah’s innovation economy. The Gardner Policy Institute convened its Tech Industry Advisory Council, with participation from three Utah trade associations—Silicon Slopes, Utah Technology Council (UTC), and Women Tech Council (WTC)—as well as the Utah Governor’s Office of Economic Development (GOED) and Economic Development Corporation of Utah (EDCUtah).
Measuring Economic Diversity: The Hachman Index, 2017
The Hachman Index is a measure of economic diversity. Using indicators such as gross domestic product (GDP) or employment, the index measures the mix of industries present in a particular region relative to a (well-diversified) reference region. Hachman Index scores are normalized from 0 to 100.
January 2019 Economic Summary
The Utah economy exceeded expectations in 2018, adding a total of 48,500 new jobs over the year. An annual employment growth rate of 3.3% is on par with the state’s long-term average and is among the strongest in the nation. A tightening labor market (3.1 percent unemployment) applied upward pressure on personal income. Annual income per capita increased to $45,174, a 3.9 percent increase from last year.
2019 Economic Report to the Governor
The Economic Report to the Governor has been the preeminent source for data and commentary on Utah’s economy for over 30 years. The Utah Economic Council, convened by the David Eccles School of Business and Governor’s Office of Management and budget, publishes the report annually.
Staying Ahead of the Curve: Utah’s Future Health Care Needs
Utah is known as a low-cost, healthy state, but the factors that help us maintain our position as one of the healthiest states in the country are changing. Rising health care expenditures, a growing senior population, and a changing demographic profile will impact Utah's future health care needs. This report provides data and information on Utah’s changing demographic profile and evolving demands for health care.