Utah Economy 101 Presented by Natalie Gochnour Wells Fargo Economic Summit for Nonprofits May 4, 2010.

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Presentation on theme: "Utah Economy 101 Presented by Natalie Gochnour Wells Fargo Economic Summit for Nonprofits May 4, 2010."— Presentation transcript:

1 Utah Economy 101 Presented by Natalie Gochnour Wells Fargo Economic Summit for Nonprofits May 4, 2010

2 Source: U.S. Census Bureau Utah Total Population

3 Note: The Replacement Level is the fertility level at which the current population is replaced Sources: National Center for Health Statistics Total Fertility for Utah and the United States

4 Utah Components of Population Change Source: Utah Population Estimates Committee

5 Utah Population – Annual Percent Change Source: Utah Population Estimates Committee

6 Source: U.S. Census Bureau

7 Utah Population Growth Rates by County: 2008 to 2009 Source: Utah Population Estimates Committee Box Elder 1.5% Cache 2.2% Rich 2.2% Weber 1.2% Tooele 1.6% Salt Lake 1.1% Morgan 3.1% Summit 1.3% Daggett 2.5% Utah 2.3% Wasatch 2.6% Duchesne 3.6% Uintah 2.8% Juab 1.5% Sanpete 2.5% Carbon -0.4% Emery 2.2% Grand 1.8% Millard 1.0% Piute 2.2% Garfield 2.1% Sevier 0.7% Wayne 2.1% San Juan 2.9% Iron 1.0% Beaver 0.8% Washington 0.5% Kane 1.2% Davis 1.9% State Average = 1.5% Increase of 1.5% to 2.1% Change of less than 1.0% Increase of 2.6% or greater Increase of 2.2% to 2.5% Increase of 1.0% to 1.4%

8 Fastest Growing Cities in Utah from 2007 to 2008 (Population 5,000+) Source: U.S. Census Bureau

9 Utah Family Characteristics as a Percent of Total Households Source: U.S. Census Bureau

10 Growth of School-Age Population Source: Governor’s Office of Planning and Budget, 2008 Baseline Projections

11 Growth of 65 and Older Age Group Source: Governor’s Office of Planning and Budget, 2008 Baseline Projections

12 Utah Dependency Ratios Source: Governor’s Office of Planning and Budget, 2008 Baseline Projections

13 United States Dependency Ratios Source: Governor’s Office of Planning and Budget, 2008 Baseline Projections

14 Historical and Projected Dependency Ratios for Utah and the United States Source: Governor’s Office of Planning and Budget, 2008 Baseline Projections

15 Utah Job Growth Source: Utah Department of Work Force Services 1960 to 2009 Average 3.3%

16

17 Job Growth March 2009-March 2010 Source: Utah Department of Workforce Services

18 Utah Job Growth by Industry Source: Utah Department of Workforce Services Percent Change in Utah Employment by Industry: March 2009 to March 2010

19 Source: Utah Department of Workforce Services

20 *Seasonally Adjusted. Source: Utah Department of Workforce Services

21 Unemployment March 2010 Source: Utah Department of Workforce Services

22 Source: Bureau of Labor Statistics

23 Personal Income Growth Sources: Bureau of Economic Analysis, Utah Department of Workforce Services

24 Utah Per Capita Personal Income as a Percent of the United States Source: U.S. Department of Commerce, Bureau of Economic Analysis; Governor’s Office of Planning and Budget

25 Median Household Income as a Percent of the United States for Mountain Division States: Three-Year Average, 2006-2008 Source: U.S. Census Bureau

26 Average Annual Pay as a Percent of the United States Average for Mountain Division States: 2008 Note: For workers covered by unemployment insurance. Source: U.S. Bureau of Labor Statistics

27 Nonfarm Employment Growth for the United States and Mountain Division States: September 2008 to September 2009 Note: Numbers in this chart may differ from other tables due to different data sources. Source: U.S. Bureau of Labor Statistics

28 Per Capita Income as a Percent of the United States Average for Mountain Division States: 2008 Note: Numbers in this chart may differ from other tables due to different data sources. Source: U.S. Bureau of Economic Analysis

29 Utah Has One of the Most Diverse Economies in the Nation Source: GOPB Analysis of Bureau of Economic Analysis Data Hachman Index: Ten Most Diversified Economies in the Country

30 Utah Merchandise Exports Source: U.S. Census Bureau through Economy.com

31 Utah Merchandise Exports to Top Ten Purchasing Industries: 2008 Source: U.S. Census Bureau through Economy.com

32 Utah Merchandise Exports to Top Ten Purchasing Countries Source: U.S. Census Bureau through Economy.com

33 Utah Construction Valuation Source: Bureau of Economic and Business Research

34 Utah Tourism Indicators: National Park and Skier Visits Source: National Park Service; Ski Utah r = revised e = estimate


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