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7:50 a.m.: Utah faring higher than the nation economically
Utah’s unemployment charge rose to 9.7% in April, state economists stated Friday, with practically 155,800 state residents thrown out of labor by the pandemic.
Within the first strong measure of COVID-19’s financial hit, that jobless charge, whereas sharply worse from even two months in the past, remains to be nicely beneath the nationwide unemployment charge of 14.7% — a robust indication the Beehive State has fared higher than the U.S. as an entire.
“Utah’s sturdy financial system previous this pandemic provided extra cushion towards disruption than seen throughout the remainder of the nation, thus Utah’s extra average setback,” stated Mark Knold, chief economist on the state Division of Workforce Providers.
Knold additionally famous that enormous numbers of idled employees in Utah have been furloughed by the disaster they usually count on to return to their jobs when that’s attainable.
Nonetheless, Workforce Providers reported that private-sector employment shrank in April by 8.1%, declining in eight of 10 main industries. Losses had been heaviest in leisure and hospitality, down 66,700 jobs; commerce, transportation and utilities, down 15,400; and schooling and well being companies, down 8,800, it stated.
Solely the development and data know-how sectors gained barely in April, at 3,400 and 500 jobs, respectively.
On a share foundation, jobs at eating places, bars and resorts; in movement image and sound recording; in employment companies; and in air transportation all took devastating double-digit blows, knowledge present.
Rural counties with parts of their economies dedicated to tourism additionally noticed heavy losses, led by Garfield (-19.4%); Grand (-18.6%); Summit (-18.3%); and Kane (-17.4%).
Salt Lake County’s employment fell by 7.6%, accord to Friday’s report, whereas Davis County was down 7.2%; Weber by 6.9% and Utah County was down 6.4%.