Utah Economy
The Kem C. Gardner Policy Institute provides analysis and data-driven, context-specific insights about the Utah economy. We prepare in-depth studies on key Utah issues in partnership with stakeholders in the private sector and in state and local government. Our research provides vital information that decision-makers and the public use to help Utah prosper.
June 2020 Economic Summary
The impact of COVID-19 has significantly affected U.S. employment, GDP, and other economic factors. This report includes May data which reflect the effects of the social distancing mandate. While the Utah economy has not escaped these unique circumstances, the state has fared better than national average metrics.
Ivory-Boyer Construction Report, First Quarter 2020
As this report reflects the first three months of 2020, the severe economic impacts of the COVID-19 health pandemic are not yet captured. Without knowing what lay ahead, based on first-quarter figures, one could have forecast 2020 as one of the best construction years on record. Total permitted construction value for the first quarter exceeded $2.5 billion, a record. This was led by a surge in the residential sector, with new permitted units increasing by 47.7% over last year, and a 46.5% increase in additions, alterations and repairs. However, as the impacts of the health pandemic continue to ravage the[...]
May 2020 Economic Summary
Utah’s nonagricultural employment has experienced a major decrease at an estimated 7.1%, or 110,900 jobs, between April 2019 and April 2020. Nationally, employment also decreased significantly, by 12.9% or 19.4 million jobs, between April 2019 and April 2020.
April 2020 Economic Summary
Utah’s nonagricultural employment increased an estimated 2.6%, or 40,300 jobs, between March 2019 and March 2020. Nationally, employment increased 1.0%, or 1.4 million jobs, between March 2019 and March 2020.
Insight: Here’s how Utah can avoid a ‘double-dip recession’ and end the COVID-19 economic misery
By: Natalie Gochnour Originally published in the Deseret News Note: The opinions expressed are those of the author alone and do not reflect an institutional position of the Gardner Institute. We hope the opinions shared contribute to the marketplace of ideas and help people as they formulate their own INFORMED DECISIONS™. Apr 28, 2020 – The economic pain from COVID-19 continues to build. Since late February, approximately 125,000 Utahns (8% of the workforce) have been furloughed or laid off. More job separations are certainly on the way. We are all asking, “When will the economic misery end?” […]
Moving Toward Evidence-Based Programs: Medication-Assisted Treatment for Opioid Use Disorder in Utah
Drug overdose is the leading cause of injury death in Utah, and opioid-related drug overdoses are a significant contributor to the rise in drug overdose deaths in recent history. In 2018, close to half of all opioid overdose deaths were prescription related, and 47% involved illicit opioids such as heroin. Fortunately, opioid use disorder (OUD) can be treated. Medication-Assisted Treatment (MAT) is “a combination of psychosocial therapy and U.S. Food and Drug Administration– approved medication”iii and has positive, evidence-based effects on OUD.
Measuring Economic Diversity: The Hachman Index, 2018
Utah is a leader among U.S. states for industrial diversity. A Hachman Index analysis using 2018 GDP data from the Bureau of Economic Analysis and aggregated to the two-digit NAICS code, reveals that Utah’s industrial distribution is very similar to that of the United States.
Ivory-Boyer Construction Report, Year-End 2019
In 2019, the value of permit-authorized construction in Utah totaled $9.8 billion, the highest year ever in both current and inflation-adjusted dollars. Sixty percent of the total construction value was in the residential sector, which rose 12.5% from 2018 to $5.8 billion. The strength of the residential sector is a result of robust growth in multifamily development. Apartments alone experienced an 80.6% increase in units from 2018. Nonresidential construction value in 2019 was $2.6 billion. Activity in the office and professional, and industrial and warehouse sectors drove commercial construction value in the state at $693.2 million and $671.9 million, respectively.[...]
Insight: Economic Fundamentals Will Make for Swift Recovery from COVID-19 Pandemic
By: James Wood Note: The opinions expressed are those of the author alone and do not reflect an institutional position of the Gardner Institute. We hope the opinions shared contribute to the marketplace of ideas and help people as they formulate their own INFORMED DECISIONS™. Mar 13, 2020 – The financial market turmoil and daily life disruptions caused by the COVID-19 virus seem extraordinary. Other flu pandemics, at least to my memory, did not involve empty grocery store shelves, cancellation of an NBA season, travel bans, and quarantines of cities and, in some cases, country lock-downs. That’s to name a[...]