Are More Utahns Claiming Unemployment or Less?

It is hard to tell sometimes if the economy is getting better or worse with all the news outlets spouting different opinions. Understanding where Utah stands compared to the rest of the U.S. is helpful and new unemployment claims can be an indicator.

Unemployment Claims are Decreasing 

In an article from WalletHub they analyzed the data for every state. They found that rates have risen slightly but have remained pretty stable over the year. Utah is right in the middle with a slight drop in unemployment claims. 

Get our free mobile app

The beehive state ranked at number 30 for the biggest decrease of claims from the week before. Iowa dropped the most claims while Rhode Island was at the bottom of the list. 

This points to a reasonably strong job market and Utah looks good with an unemployment rate of 3.3%. That is lower than the overall rate for the United States at 4.2%. This is only one way to see what the economy is doing.  

Inflation in Utah and the United States has Slowed Down 

There have been a lot of increases in prices in the last few years. The good news is the inflation rate has been slowing down during the summer. USA Facts says the core inflation rate from last year is at 3.1%. 

Read More: Growth in Space Travel Fuels Hope for Utah Spaceport

Still, those prices aren’t coming down to what they were, and it has made things tight for many Utahns. As long as unemployment stays low the economy’s ability to balance this out will be enhanced.