The State of Utah Income Charts

This section shows the Utah economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Utah depicts it has a Median earnings of $52,638 which is the second most median earnings of all the states in the greater Utah region. The state with the highest median earnings per worker in the group is Colorado which shows a median earnings of $57,852 (9.9% larger).

In Figure 2 a more complete view of income is shown which aggregates income from all members in the household and it has a Median household income of $79,133 which is the second most median income of all the states in the greater Utah region. The state with the highest median household income in the group is Colorado which shows a median income of $80,184 ( only slightly larger).

Figure 5 has the Average number of hours worked in a typical work week during the year, it has a Avg Hours Worked of 37.1 which is in the center range of other states in the local area. The state with the highest average hours in the group is Wyoming which shows an average hours of 39.9 (7.5% larger). Dividing median annual worker earnings by the average number of hours worked in a year in Figure 6 shows that it has a Avg Hrly Earnings of $27.28 which is the second most average hourly earnings of all the states in the greater Utah region. The state with the highest average hourly earnings in the group is Colorado which depicts an average hourly earnings of $28.53 (only about 4.6% larger).

Figure 7 examines the number of self employed people in the Utah metro area based on the number of people who reported any self employment income. Utah shows it has a Self Employed of 12.9% which is less than most other states in the greater region. The state with the highest percentage of people self employed in the group is Montana which shows a percentage self employed of 15.5% (20.7% larger).

Turning our attention to Figure 8, the median household income by age group, it has one of the largest proportions of median income-under 25 years at $83,643 of the total and is ranked #2. The only larger state being Colorado with $87,239. Second, it has the largest proportion of median income-25 to 44 years at $99,306 of the total and is ranked #1. Third, it has the largest proportion of median income-45 to 64 years at $59,518 of the total and is ranked #1.

Figure 9 breaks down the source of income and Utah has the smallest proportion of self employment income at 11.3% of the total.

The next chart (Figure 11) shows the percentage of households that had retirement income over the last 12 months and it has a With Retirement Income of 19.0% which is in the middle range of other states in the local area. The state with the highest households with retirement income in the group is Arizona which depicts a households with retirement income of 24.0% (26.3% larger).

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and it has one of the largest proportions of overall family income at $93,872 of the total and is ranked #2. The only larger state being Colorado with $104,293. Second, it has the second smallest as measured by overall family income of all the other states in the local area in terms of white family income at $54,648 of the total. Third, it has one of the largest proportions of hawaiian family income at $66,293 of the total and is ranked #2. The only larger state being Colorado with $68,517.

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Utah depicts it has the hightest cost of 127.5 for the cost of housing group.

The State of Utah Labor Force Charts

The next two charts look at very recent, monthly trended employment related performance using data estimated by economists at the Bureau of Labor Statistics (BLS). The BLS tracks unemployment statistics for a large number of areas throughout the country on a month to month basis. However, not every location in the U.S. is tracked by the BLS so the chart will only show the closest location available (which may be the same location.) Figure 14 shows the monthly unemployment rate for the area as well as a comparison to the overall national economy measure for the United States. Note that in March to April 2020, the Covid 19 recession or great recession occurred and affects this metric. . It depicts that from January 2010 to before the disasterous Coronavirus Pandemic the monthly unemployment rate went from 9.8% to 4.4% in March 2020. This represents a decrease in the monthly unemployment rate of 55.1%. Since that time, the monthly unemployment rate has gone to 3.5% This represents a decrease in the monthly unemployment rate of 20.5%. In Figure 15 the monthly labor force participation which are people actively looking for work are also defined as unemployed but do not include people who have given up looking for work. . It depicts that from February 2010 to before the Coronavirus Pandemic the monthly labor force participation went from 1,347,242 to 1,637,385 in January 2020. This represents an increase in the monthly labor force participation of 21.5%. Since that time, the monthly labor force participation has gone to 1,747,090 This represents an increase in the monthly labor force participation of 6.7%.

The next two charts look at the annual unemployment rate/eligible for unemployment benefits and is based on the American Community survey. Figure 16 shows Utah indicates it has a Unemployment Rate of 2.4% which is in the middle range of other states in the metropolitan area. The state with the highest unemployment rate in the group is Nevada which shows a rate of 4.5% (about twice as large). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. the state of depicts it has a Labor Force Participation of 69.1% which is the highest of all states in the greater Utah region.

The Components of Employment Status graph in Figure 18 shows the composition of the labor force broken down by employed, unemployed, and not in the labor force (but 16 years of age or older). Utah has the smallest proportion of employed at 2.4% of the total. Second, it has the smallest proportion of unemployed at 30.9% of the total.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Utah depicts full time employees approximately 2.6 times bigger as the part time employees.

The next employment related data item is shown in Figure 21 which is the percentage of families with only a single earner in the greater Utah area. Utah shows it has a Single Earner Families of 28.9% which is in the center range of other states in the local area. The state with the highest families with a single earner in the group is New Mexico which depicts a single earners rate of 31.6% (9.2% larger). The percentage of families with no one working is depicted in Figure 22. Utah depicts it has a Families with No One Working of 12.5% which is in the intermediate range of other states in the surrounding region. The state with the highest families with no one working in the group is New Mexico which shows a families with no worker of 22.9% (about twice as large).

The State of Utah Poverty Charts

The next section details economy analysis about poverty for residents of the Utah community. This performance can be enhanced by government programs such as economic opportunity zone to influence manufacturing, job growth, economic opportunity an hopefully lead to economic recovery after the recent Covid 19 recession. In Figure 23 the total number of people earning less than the poverty level are shown. Utah depicts it has a Total In Poverty of 278,486 which is less than most other states in the local area. The state with the highest total people earning less than the poverty level in the group is Arizona which shows a total people earning less than the poverty level of 934,911 (approximately 3.4 times bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Utah depicts it has a Percent of Population In Poverty of 8.8% which is in the mid range of other states in the area. The state with the highest percent of people earning less than the poverty level in the group is New Mexico which shows a percent of people in poverty of 18.3% (about twice as large).

In Figure 25 people who are in poverty are broken out by age group. Utah has the largest proportion of person in poverty 12 to 17 years at 37% of the total and is ranked #1. Second, it has the smallest proportion of person in poverty 18 to 34 years at 17% of the total. Third, it has the smallest proportion of person in poverty 35 to 54 years at 7% of the total. Also, it has the smallest proportion of person in poverty 55 to 64 years at 8% of the total.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Utah has the percentage of asian poverty rate the second smallest in terms of white poverty rate of all the other states in the area at 9% of the total. Second, it has the smallest proportion of hawaiian poverty rate at 14% of the total.

Figure 27 shows key poverty statistics for groups based on marriage status. Utah has the smallest proportion of married with children and in poverty at 26% of the total. Second, it has the smallest proportion of unmarried with children and in poverty at 31% of the total. Third, it has the smallest proportion of unmarried female with children and in poverty at 13% of the total.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Utah has the smallest proportion of less than highschool in poverty at 9% of the total. Second, it has the smallest proportion of highschool graduate and in poverty at 6% of the total. Additionally, Figure 30 looks at the percentage of people who receive some form of public assistance including general assistance, temporary assistance or food stamps (i.e. SNAP.) the state of depicts it has a Public Assistance Percent of 6.8% which is the smallest when sorted by households with public assistance of all the other states in the metro area. The state with the highest households with public assistance in the group is New Mexico which shows a households with public assistance of 18.5% (approximately 2.7 times bigger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). the state of shows it has a Gini Index of 42.8% which is in the center range of other states in the metropolitan area.

The State of Utah Work Commute Charts

Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Utah or elsewhere.) Utah has the largest proportion of people who take the Long-distance train or commuter rail at 0% of the total and is ranked #1. Second, it has the largest proportion of people who take Light rail, streetcar or trolley at 0% of the total and is ranked #1. Third, it has the smallest proportion of people who took a taxicab, motorcycle or other at 1% of the total.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Utah has the largest proportion of people who leave for work between 8am to 830am at 7% of the total and is ranked #1.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Utah has the percentage of people with commute time of less than 5 minutesutes less than most other states in the surrounding region at 12% of the total. Second, it has the smallest proportion of people with commute time between 60 to 89 minutes at 1% of the total.

The average commute time is shown in Figure 37. the state of depicts it has a Avg Commute Time of 22 which is less than most other states in the local area. Figure 38 shows the difference between male versus female commuting time. Utah depicts average commute time in minutes for men 55.3% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Utah has the smallest proportion of no vehicle available at 13% of the total. Second, it has the largest proportion of 3 vehicles available at 14% of the total and is ranked #1. Third, it has the largest proportion of 4 vehicles available at 9% of the total and is ranked #1. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) the state of shows it has a Work in city or place where live of 35% which is in the mid point range of other states in the local area. The state with the highest people who both work and live in the same city in the group is Wyoming which depicts a people who both work and live in the same city of 64% (about twice as large).

The State of Utah Jobs Charts

The next to charts break out the median earnings for major job categories for men and women. Figure 46 shows the median earnings of men for the job categories. the state of depicts it has the hightest median earnings of $99,755 for the earnings-healthcare practitioners and tech occupations classification. Similarly, Figure 47 shows the median earnings of women for the job categories and the state of shows it has the hightest median earnings of $66,887 for the earnings-computer, engineering, and science occupations aggregate. The table in Figure 48, shows Utah employment data in terms of job categories and salary data.

The State of Utah Self Employment Charts

Figure 49 shows economic activity in terms of the number of people who are self employed in incorporated local business by industry. the state of depicts it has the hightest entrepreneurs of 51% for the self employed management, business, science, and arts businesses classification.

Similar to the last chart is Figure 50 which shows the number of people who are self employed but in more detailed industry categories such as manufacturing, retail sales, residential real estate, commercial real estate, health care, exports/imports, and advanced industries, etc. the state of depicts it has the hightest entrepreneurs of 20% for the self employed in professional, scientific, management, administrative services grouping.

In Figure 51 the average annual self employment/entrepreneur income is shown. the state of depicts it has a Self Employment Income of $37,161 which is the smallest in terms of average annual self employment income of all the other states in the area. The state with the highest average annual self employment income in the group is Nevada which shows an average annual self employment income of $46,850 (26.1% larger).

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Utah depicts total number of self-employed men 60.0% larger as the total number of self-employed women.