Utah Excels Over Long Haul
05/27/2021
Economic Development Corporation of Utah
As part of Economic Development Week nationally, Michael Stachitus, EDC Utah research and marketing manager, looked at historical metrics to get a sense of how Utah has performed in recent decades, and especially how Utah was affected by and recovered from the great recession.
Michael analyzed GDP growth, employment growth, wage growth, and population growth from 2002 to 2019. Here is what he found:
- Utah is 1st in the nation in average ranking vs other states in GDP growth from 2002 to 2019. Utah’s average annual GDP growth was 5.4%, compared to a 50-state average of 4%.
- Utah is 1st in the nation in average ranking vs other states in employment growth from 2002 to 2019. Utah’s average annual employment growth was 2%, compared to a 50-state average of 0.6%.
- Utah is 1st in the nation in average ranking vs other states in wage growth from 2002 to 2019. Utah’s average annual wage growth was 4.9%, compared to a 50-state average of 3.4%.
- Utah is 1st in the nation in average ranking vs other states in population growth from 2002 to 2019. Utah’s average annual population growth was 1.9%, compared to a 50-state average of 0.8%.