Job growth slowed slightly over the past three months but continued at a modest pace increasing the GDP by 2.4% through Q413. The current U.S. unemployment rate of 6.7% remains within 0.1 percentage point (pp) of the lowest rate over the past five years.
Utah’s sustained job growth, a year-over-year increase of 2.8%, pushed the unemployment rate to just 3.9%. Financial activities, information and professional/business services jobs, which relate most closely to office demand, remained soft with only 7,200 jobs added associated with these segments of the 34,700 net new jobs.
Source : Cushman & Wakefield