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 depicts 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). Dividing median annual worker earnings by the average number of hours worked in a year in Figure 4 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 shows an average hourly earnings of $28.53 (only about 4.6% larger).

Figure 5 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 depicts it has a Self Employed of 12.9% which is less than most other states in the metropolitan area. The state with the highest percentage of people self employed in the group is Montana which depicts a percentage self employed of 15.5% (20.7% larger).

Figure 6 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 7) 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 mid range of other states in the metropolitan 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).

The percentage of full-time workers are compared to the number of part-time workers in Figure 8. Utah depicts full time employees approximately 2.6 times bigger as the part time employees.

Similar to the last chart is Figure 9 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 shows it has the hightest entrepreneurs of 20% for the self employed in professional, scientific, management, administrative services category.

Figure 10 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 classification.

The State of Utah Poverty Charts

In Figure 11 the percentage of people earning less than the poverty level is shown and compared across the group of places. Utah shows it has a Percent of Population In Poverty of 8.8% which is in the mid range of other states in the local area. The state with the highest percent of people earning less than the poverty level in the group is New Mexico which depicts a percent of people in poverty of 18.3% (about twice as large). Additionally, Figure 12 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 depicts a households with public assistance of 18.5% (approximately 2.7 times bigger).

The State of Utah Labor Force Charts

The table in Figure 13, shows Utah employment data in terms of job categories and salary data.

The next two charts look at 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 2022, the Covid 19 recession occurred and affects this metric. The monthly unemployment rate shows that from January 2017 to before the disasterous Covid-19 virus Pandemic it went from 4.8% to 4.4% in March 2020. This represents a decrease in the monthly unemployment rate of 8.3%. Since that time, the monthly unemployment rate has gone to 3.5%. This represents a decrease in the monthly unemployment rate of 20.5%.

The State of Utah Jobs Charts

In the jobs section of economic activity charts in Figure 15 shows the average annual earnings for very high level job industry categories for full time and year round employed.

Figure 16 shows the average median earnings for different categories of jobs.

The State of Utah Work Commute Charts

Figure 18 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.

Figure 19 is provided for comparison purposes to the previous chart. It shows how people get to work overall on average in the United States.

The average commute time is shown in Figure 21. the state of depicts it has a Avg Commute Time of 22 which is less than most other states in the local area.