Your SlideShare is downloading. ×
2013-04-23-Economic Report to the Board of Governors
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

2013-04-23-Economic Report to the Board of Governors

295
views

Published on

Published in: Economy & Finance

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
295
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
2
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. -5.1%-0.6%2.3%3.3%4.0%-6.0%-4.0%-2.0%0.0%2.0%4.0%6.0%2009 2010 2011 2012 2013 (f)Utah Job Growth RateSource: Utah Department of Workforce Services, Governor’s Office of Management and Budget and Salt Lake ChamberYear-over percent change
  • 2. (63,837)(7,217)27,03039,03148,700(80,000)(60,000)(40,000)(20,000)-20,00040,00060,0002009 2010 2011 2012 2013 (f)Utah Job CreationSource: Utah Department of Workforce Services, Governor’s Office of Management and Budget and Salt Lake Chamber
  • 3. 36,76651,100105,645 109,04190,06276,99867,900-20,00040,00060,00080,000100,000120,0002007 2008 2009 2010 2011 2012 2013(f)Utah Number of UnemployedSource: Utah Department of Workforce Services, Governor’s Office of Management and Budget and Salt Lake Chamber
  • 4. 7.6%8.0%6.7%5.7%4.9%0.0%2.0%4.0%6.0%8.0%10.0%2009 2010 2011 2012 2013 (f)Utah Unemployment RateSource: Utah Department of Workforce Services, Governor’s Office of Management and Budget and Salt Lake Chamber
  • 5. 19,6004,5002,3005,00010,400-5,00010,00015,00020,00025,0002009 2010 2011 2012 2013(f)Utah Net MigrationSource: Utah Governor’s Office of Management and Budget
  • 6. -4.5%3.0%4.6% 5.0%4.2%-6.0%-4.0%-2.0%0.0%2.0%4.0%6.0%2009 2010 2011 2012 2013(f)Utah Personal Income Growth RateSource: Utah Governor’s Office of Management and BudgetYear-over percent change
  • 7. $10.3$13.8$19.0 $19.1$21.0-5101520252009 2010 2011 2012 2013(f)Utah ExportsSource: World Trade Center Utah(in billions)
  • 8. 10.5 9.38.812.716.0-51015202009 2010 2011 2012 2013(f)Utah Dwelling Unit PermitsSource: Utah Governor’s Office of Management and Budget, Revenue Assumptions Working Group(in thousands)
  • 9. -8.8% -7.3%6.7% 6.9%4.0%-10.0%-5.0%0.0%5.0%10.0%2009 2010 2011 2012 2013(f)Utah Retail Sales Growth RateSource: Utah State Tax Commission and Utah Governor’s Office of Management and BudgetYear-over percent change
  • 10. Top Five Job Growth StatesSource: Bureau of Labor StatisticsMarch 2012 – March 20130.0% 1.0% 2.0% 3.0% 4.0% 5.0%IdahoColoradoTexasUtahNorth Dakota2.4%2.6%3.1%4.2%4.4%Year-Over Percent ChangeU.S. average = 1.5%
  • 11. Utah Job Growth by IndustryMarch 2013-2.0 0.0 2.0 4.0 6.0 8.0 10.0GovernmentOther ServicesLeisure and HospitalityEducation and HealthProf. and BusinessFinancial ActivitiesInformationTrade, Trans, UtilitiesManufacturingConstructionNatural ResourcesTotal-0.13.87.92.94.85.67.24.63.28.6-0.84.0Year-Over Percent ChangeSource: U.S. Bureau of Labor Statistics
  • 12. Focus Areas• Immigration• Rio Tinto
  • 13. Foreign Labor ForceHourlyWorkersHigh-SkilledWorkersSkill levelNumberofworkersConceptual Example
  • 14. Native Labor ForceHourlyWorkersHigh-SkilledWorkersSkill levelNumberofworkersConceptual Example
  • 15. America’s foreign labor force does notimpede economic growth, it propels it.• Immigrants and natives are not perfect substitutes. They arecomplements• Efficient labor markets are important because productivity is akey determinant of living standards.• When the immigrant labor force grows, domestic jobsincrease.
  • 16. Kennecott LandslidePhoto credit: Deseret News
  • 17. Rio Tinto/Kennecott Economic Impact: 2011• Total in-state spending = $1.2 billion– $270 million in wages, salaries, benefits and pensions– $765 million in purchases with Utah firms– $140 million in payments to state and local government (including taxes)• Direct employment = 2,810• Indirect and induced employment = 14,971 people• Total jobs = 17,781 jobsSource: Bureau of Economic and Business Research, University of Utah