2011-2013 American Community Survey Statistics

The U.S. Census Bureau released the second of its annual series of data sets from the American Community Survey, this one combining the three years of data collected between 2011 and 2013.

The statistics paint a detailed portrait of the nation, all states, and the District of Columbia, all congressional districts and all other geographic areas with populations of 20,000 or more. For each covered area, the American Community Survey includes statistics on more than 40 economic, housing and social topics.

By pooling three years of survey responses, the Census Bureau is able to produce more reliable statistics for more areas of the country than is possible with data compiled from one year of data collection.

The American Community Survey provides a wide range of important statistics about all communities in the country. The American Community Survey gives communities the current information they need to plan investments and services. Retailers, homebuilders, police departments, and town and city planners are among the many private- and public-sector decision makers who count on these annual results.

These statistics would not be possible without the participation of the randomly selected households in the survey. For more, see the American Community Survey: 2011-2013.

Utah: The Brightest Star

2011 LMI Annual Report available online

Calendar year 2011 marked the first full year of economic recovery in Utah from the Great Recession’s employment trough of mid 2010. All industrial sectors save construction showed employment gains for the year. Construction’s 50-job loss for 2011 is nominal and shows that even this hard-hit and recession-centered industry is reaching its final resting point for the recessionary slide.

Utah added nearly 27,000 jobs to its economy during 2011. This represents an employment growth rate of 2.3 percent. It also marks the first full year of employment growth in three years, following two prior years of job losses in Utah and an additional year with no job growth. Still, employment levels remain 43,900 below the pre-recession peak employment of 2008.

Utah added nearly 27,000 jobs to its economy during 2011. This represents an employment growth rate of 2.3 percent. It also marks the first full year of employment growth in three years, following two prior years of job losses in Utah and an additional year with no job growth. Still, employment levels remain 43,900 below the pre-recession peak employment of 2008.

Utah’s labor force participation rate has fallen from 72 percent prior to the recession to 66 percent by late 2011. This is a significant decline; one of the highest in the nation. The most obvious aspect of this decline is the cyclical job losses and job stagnation of the recession, but additionally the youthful makeup of Utah’s labor force. Younger workers tend to be more adept at exiting the labor force for short durations than are older workers who may need to keep seeking work to support a family.

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‘Tis the season to be hired: Temporary Workforce May Lead to Permanent Jobs

As the holidays are upon us, demand for employees goes up.

According to The Consumerist, this year, FedEx is expecting even more shipping traffic than it did last year and as such is hiring 20,000 seasonal workers to help make things run smoothly.

Amazon, not to be outdone is also hiring. The company said it expects thousands of seasonal workers to stay at Amazon in full-time positions after the holidays are over.

And the list goes on: Macy’s, Target, Wal-Mart and more throughout the nation.

Heather R. Huhman at Business Insider says these part-time gigs can lead to something better: "There's also more good news for those who've been hired for part-time seasonal employment: several retailers are planning to hire a portion of their temporary workforce on as permanent employees after the holiday season. But you'll need a plan of attack if you're hoping to turn your holiday position into something more permanent."

Huhman's plan of attack is:

1. "Express your interest"
2. "Impress the right people"
3. "Work like you've already been hired full-time"

Huhman says to "immediately identify the co-workers, managers, and other company employees on whom you want to leave a positive lasting impression."

"The productivity of many seasonal workers tends to fizzle out toward the end of their time with the company," Huhman says. "Stand out by remaining positive and optimistic about your future and leaving a lasting impression your managers." Deseret News

What Are We Buying Now?

A new report from the Bureau of Labor Statistics examines how spending patterns have changed over the last 25 years. Based on inflation-adjusted expenditure data from 1986 and 2010, the report shows that the proportions of spending across expenditure categories have changed dramatically for U.S. consumers. While we often hear people complain about the cost of food or transportation, homeowners today actually spend 14 percent less on food and 22 percent less on transportation as compared to 25 years ago. However, when spending decreases in some categories, it must necessarily increase in others. Expenditures on health insurance grew the most with an increase of 145 percent, but, to keep the amount in perspective, it only amounted to 4 percent of total expenditures. The largest expenditure category was housing, which accounted for 33 percent of spending for homeowners and 38 percent of spending for renters. The share of expenditures going to housing grew by 11 percent for homeowners and 16 percent for renters over the last 25 years.

The full report can be found here.

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Growing Utah's Action and Outdoor Sports Economy

According to data from the Utah Sports Commission, the organization chartered with attracting sports events to Utah and continuing Utah's Olympic Legacy efforts, the state's sports industry generates $4.5 - $6 billion annually. Much of that money comes from capitalizing on events within Utah's core competencies: winter sports, action/adventure sports, golf, motor sports and Olympic legacy sports and activities.

Since 2000, nearly 450 action and outdoor sports events supported by the Utah Sports Commission have brought in over $1 billion to Utah's economy -- an average return on investment of 7.2:1 to 8:1 per dollar spent on the sporting events (from actual tax revenue collected compared to state dollars received). Utah Pulse

Buying local pays off locally

On Wednesday, Bill Coker, co-owner of Red Iquana, and wife Lucy Cardenas were on hand during a press conference at Harmons Emigration Market touting locally owned businesses.

They and others were armed with a study conducted in the Salt Lake Valley that showed independent retailers return 52 percent of their revenue to the local economy — compared with 14 percent by national chains. The data from 2011 compiled by national research firm Civic Economics also calculated that locally owned restaurants returned nearly 79 percent of their revenue, compared with 30 percent by their national counterparts.

The study concluded that shifting just 10 percent of purchases from national chains to local retailers and restaurants would keep $487 million in the Utah economy — money that now leaves the state to be spent elsewhere.

Daniel Houston, a partner at Civic Economics, said similar studies in Chicago, San Francisco, New Orleans, Phoenix, and Grand Rapids, Mich., by the national research group shows that shopping locally can keep at least three times more revenue in local economies.

For comparison purposes, Civic Economics analyzed annual reports for four major national chain stores (Barnes & Noble, The Home Depot, Office Max and Target). In addition, researchers analyzed reports for three national restaurant chains (Darden, McDonald’s and P.F. Chang’s).

While chain stores and restaurants extract locally generated revenue from the community with each nightly bank transaction, independents create a cycle of local spending, according to the study.

The extra dollars in local communities produce more jobs, extra tax revenue, more investment in commercial and residential districts, and enhanced support for local nonprofits. In short, these businesses create better places, it said. Salt Lake Tribune

Flow of money, credit essential for economic engines to function

Most mechanical devices benefit from some sort of lubrication to allow them to run more smoothly and to decrease wear on the internal parts due to use. For example, automotive engines require sufficient motor oil to keep them functioning as designed and allow them to endure the stresses and strains of constant use.

Similar to mechanical engines, the economic engine requires certain lubricants to keep it functioning effectively and efficiently.



For the quarter ending June 30, overall consumer credit increased 5 percent on a seasonally adjusted annual basis. This overall measure is also down slightly from the first quarter of 2012. Consumer credit increased at an annual rate of 5.9 percent in the first quarter.

While credit is issued by a number of institutions, for the Fed's purposes six broad categories of debt holders are tracked. Based on the amount of consumer credit outstanding, the following are some of the larger holders of this debt: depositary institutions, finance companies, credit unions, the federal government and pools of securitized assets.

For the U.S. economy to function effectively, the amount of consumer credit outstanding and the creation of new credit are both critical. Growth in the velocity of credit creation over the medium term will be one signal of increasing strength of the U.S. economy.

Kirby Brown, the CEO of Beneficial Financial Group in Salt Lake City. Deseret News

Incentives help Utah ride out recession

Spencer Eccles clearly was in an upbeat mood during a meeting of the Governor’s Office of Economic Development board a few weeks ago.

He had reason to be. Eccles, GOED’s executive director, had some very good news to report. His agency, which oversees all business, tourism and film development for the state of Utah, had hit another home run. In the fiscal year that had just ended, GOED had authorized tax incentives to two dozen companies that had pledged to create a record 9,019 jobs, — 18 percent more than in the previous year, which also was a record.

What Eccles and Christopher Conabee, who runs corporate recruitment for GOED, didn’t tell the board was just as remarkable. Over the past seven fiscal years, the state has agreed to forgo $646 million in taxes in order to incentivize the creation of thousands more jobs in seven industrial sectors, including aerospace, financial services, life sciences and software development.

But whether that’s a bargain or an extravagance isn’t clear because there seems to be no national standard to measure the costs of tax incentives against their benefits. In fact in April, the Pew Center on the States issued a report saying most states, including Utah, don’t really know if business tax incentives are boosting job growth.

By the numbers, the incentives have apparently produced impressive results without exposing taxpayers to risk. Since 2006, scores of companies, including household names such as Adobe, Goldman Sachs, eBay, IM Flash, ITT and Oracle, have promised to create more than 37,000 new jobs in the state within some fixed span of time, usually five years to 20 years. Most will pay well, by Utah standards. GOED says each job must pay at least 25 percent more than the average wage of the county where it is created. In Salt Lake County, where about half of the jobs incentivized by the agency are being developed, that works out to about $55,640 a year, according to U.S. Bureau of Labor Statistics data. Salt Lake Tribune

Report highlights economic value of Utah's federal lands

A new report shows the wide range of economic impact to Utah's economy from Department of Interior-managed lands, with nearly $14 million that was infused in the last fiscal year. That impact, detailed Monday, includes 83,292 jobs in fields ranging from energy and mineral development to tourism and outdoor recreation.

Of those Utah jobs, close to 22,000 are directly from the oil and gas fields and more than 950 come from coal mining-related activities.

Nationwide, the activities of the Interior Department contributed $385 billion to the U.S. economy and supported more than 2 million jobs in 2011, according to the report. Deseret News

Department of Workforce Services Work/Life Awards

The Utah Work/Life Awards™ honoring Utah’s Best Places to Work™, recognize companies that are creating exceptional workplaces and businesses by effectively addressing employee work/life needs and striving to create and sustain a culture of equity, growth and opportunity.

Any Utah company can apply. If your company has locations in other states, you will just apply on behalf of your Utah-based employees. It is free to apply, and companies must be current on their state/federal taxes.

Go to: http://jobs.utah.gov/occ/worklife/awards/index.html to complete the on-line application.

Utah's Business by Employment Size - Trendlines article

80,000 Worksites - That’s how many physical places of employment there are in Utah. These 80,000 worksites collectively employ about 1.2 million workers on payrolls in the state. How these businesses and employees are distributed across the state and its industries is the theme of this article. Utah is a big state geographically but most of its economic activity is concentrated along the Wasatch Front. In fact, over 80 percent of all jobs and businesses are within a 50-mile radius of Salt Lake City.

To read more, see the entire article here.

Utah is the 9th Best State for Business 2012

This year, 650 business leaders responded to the Chief Executive’s annual survey, up from 550 in 2011. CEOs were asked to grade states in which they do business among a variety of areas, including tax and regulation, quality of workforce and living environment. The Lone Star State was given high marks foremost for its business-friendly tax and regulatory environment. But its workforce quality, second only to Utah’s, is also highly regarded. Chief Executive

Department of Workforce Services helps scores of Utahns find a job

While Utah's unemployment numbers continue to hover around six percent, well below the national average, The Utah Department of Workforce Services (DWS) is taking a closer look at whether they are making a difference.

In the May/June edition of their publication "Trendlines," WFS executive director Kristen Cox addresses this very question and with the data to back it up, concludes with a resounding yes.

For example, DWS served more than 31,000 veterans last year and ranked 15th in the nation in helping veterans find and retain employment.

Utah also has the 5th best (shortest) duration rate for unemployment insurance customers nationally.

One of the key elements that lends to the success of DWS is their job matching system. This no-cost web-based system allows employers to recruit for new workers through an online service at http://jobs.utah.gov. The system then searches registered applicants and presents to the employer a list of job seekers matching their criteria.

For the quarter ending December 31, 2011, Utah's labor market included 22,465 hiring employers with 169,984 new hires. The job matching system represented 16.1 percent of the total number of hiring employers and an even more significant 32.4 percent of the new hires. The system is working. Standard Examiner

Utah named state with best economic outlook

For the fifth year in a row, Utah has been named the state with the brightest economic outlook.

According to the ALEC-Laffer State Economic Index, “Rich States, Poor States,” Utah is the No. 1 state in the nation for economic outlook. The “Rich States, Poor States” analysis uses 15 variables to evaluate the state’s potential economic outlook, including tax rates, tax burdens, number of public employees, minimum wage and more. Deseret News

Summit celebrates corporate growth in Utah

Just a few years ago, the Utah Economic Summit was a bit of somber affair as the state’s economy struggled through the worst recession since the Great Depression.

The 2012 edition of the event on Tuesday, by contrast, was an upbeat Utah love fest, coming on the heels of a slew of corporate expansions and top-tier national rankings for Utah in terms of business and job growth, and overall economic well-being.

The sixth annual summit was part business-development conference, part update on what some of the largest companies in the state have announced or are planning.

Managing editor Mary Helen Sprecher, who attended the summit, said the fact that three of the company’s 30 awards this year were for Utah expansions is noteworthy given the state’s small size from a population perspective. "Three companies receiving awards from Utah —that’s never happened before," Sprecher said. "Certainly, it speaks to all of what’s happening in the state right now."

Governor Herbert said interest in Utah has been climbing in the past year, both among corporations seeking to expand and the national media. The governor recently spent time with not one but two reporters from Reuters, who tried to answer the question: Why are so many companies expanding in the Beehive State? (Read their conclusions at http://reut.rs/zZr0fM) Salt Lake Tribune

Utah entreprenuer Josh James to attend White House for JOBS Act signing

Josh James, the Utah Entrepreneur who co-founder of Omniture, will attend the White House signing of the JOBS Act, a series of bills designed to help small businesses and startups find funding, on Thursday, according to peHub.com.

"This bill makes a tremendous difference for entrepreneurs trying to get funding who are yet unproven," James said in a statement to the Deseret News. "Crowd funding is a fantastic trend. It certainly has some risks like all investing does but in today's modern age more people should be able to back entrepreneurs and businesses in which they believe."

The Jumpstart Our Business Startups, or JOBS, Act will allow companies to find funding and become publicly traded faster and easier by relaxing a set of regulations from the Securities and Exchange Commission.

Business leaders in Utah expect the JOBS Act to have a significant impact on the state.

Money flow from crowdfunding will be a relief to cash-strapped startups in Utah, said Alan Hall, former chief executive officer and chairman of MarketStar Corp. Deseret News

Utah Business Board Approves Film Incentives

Members of the Governor’s Office of Economic Development (GOED) Board of Directors have approved film incentives from the Motion Picture Incentive Program (MPIP) for eight films that will be shot in Utah, the most projects the board has ever approved in a single meeting.

Since the MPIP was created in 2004, 95 film projects have received funding, creating more than 5,000 production jobs and 2,000 production days. The projects are responsible for leaving nearly $178 million in the state. Recent films include John Carter, all three High School Musical movies, and the Oscar-nominated 127 Hours. Utah Business

Air Quality is important for a Healthy Economy

Some days, the Northern Utah air is so thick with haze that it’s impossible to see the mountains. From the benches, the downtown skyline is obscured in layers of smog. It’s unhealthy. It’s unsightly. And it’s a huge liability for economic development efforts in the state. For the Salt Lake Chamber, poor air quality presents as much an economic development threat as a health threat. “It’s not the tree-hugger thing that you might be picturing,” says Marty Carpenter, a spokesperson for the Salt Lake Chamber. “It’s important to our economic development that we maintain and improve our air quality. It’s important for job creation, for business growth, and it impacts every business in the state.”

One of the biggest threats is the possibility of additional federal regulation. Northern Utah’s seasonal pollution spikes have already drawn the attention of the EPA. Areas including Utah, Davis and Salt Lake counties, and portions of Tooele, Box Elder, Weber and Cache counties.

While the state is working to formulate a plan to deal with its air quality, “The EPA has two hammers that are waiting to fall,” says Bryce Bird, Director of the Utah Division of Air Quality. One is automatic sanctions that would reduce or eliminate federal highway funding for capacity-expanding projects. The other is an EPA-imposed plan to bring the area into compliance—in other words, additional regulatory oversight and burdens.

Both of these possibilities concern the Salt Lake Chamber.

“Highway funding has been such a vital component to our economic development effort over the last seven or eight years,” notes Carpenter. Projects like the Mountain View Corridor and the extension of the Legacy Highway are vital for the surrounding communities. Plus, these projects provide much-needed construction jobs.

Utah’s air quality presents another economic development concern—a reduced ability to recruit businesses to Utah. “The EDCUtah really gets nervous about bringing people to Utah in January and February for fear there will be poor air quality issues,” says Carpenter. “If they see a valley filled with haze and pollution, it’s not as attractive to them.”

Other economic costs of poor air quality include reduced worker productivity and increased healthcare costs as a result of illnesses caused and exacerbated by the pollution. Utah Business

Take the leap — but know the dangers of Entrepreneurship

Even with a great product idea that has gained traction with customers, founders face stunning and daunting challenges. Entrepreneurs who are successful have taken significant personal risks to start and grow their businesses. Deseret News