Recent Research
Recently Published
The most recent research published by the Kem C. Gardner Policy Institute
State Budget Stress Testing: How Utah Budget-makers are Shifting the Focus from a Balanced Budget to Fiscal Sustainability
State budget stress tests help policymakers to plan for and create appropriate, measured responses to economic volatility. Utah is the first state to implement comprehensive budget stress testing, evaluating the sufficiency of reserves and other budget contingencies to cover recession-spurred revenue shortfalls and countercyclical cost hikes.
State Budget Stress Testing User Guide
This user guide is a supplemental piece to the Gardner Institute’s report “State Budget Stress Testing: How Utah Budget makers are Shifting the Focus from a Balanced Budget to Fiscal Sustainability.” It is intended to assist other states in preparing their own budget stress tests.
Ivory-Boyer Construction Report, 1st Quarter 2019
The total statewide value of permit authorized construction during the first quarter of 2019 is $2.0 billion. This value is within a few million dollars of an all-time first quarter high in 2018 (inflation adjusted). Nonresidential construction value is particularly strong with a total of $641 million, up 35 percent over 2018. The number and value of residential permits issued, however, are down from the strong first quarter of 2018. Nevertheless, first quarter 2019 is still the second highest year in residential value since 2006 and the second highest in residential permits since 2007.
Fact Sheet: Utah State and County Annual Population Estimates by Single Year of Age and Sex: 2010-2018
Utah’s population grew by nearly 400 thousand people (about 15 percent) since 2010. This is considerable growth, but only part of the story. Birth rates are falling, Utah’s population is aging, and Baby Boomers are retiring. Since 2010, the retirement age population (65 and older) grew by nearly 40 percent, while the youth population (under 18) grew by less than 10 percent.
U.S. Census Bureau Estimates for Incorporated Places and Housing Units, 2018
The Census Bureau’s most recent release on May 23, 2019 provides population estimates for incorporated places (cities and towns) and housing unit estimates at the state and county level from Census 2010 to July 1, 2018. Townships or other unincorporated communities are not included in this release.
May 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.
April 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.
