Mark Knold is Utah’s chief economist and he has worked as an economist for over 30 years for the state of Utah. He has acquired a bachelors in economic science as well as a masters degree in economics from Pacific Coast Banking School. He has watched the unemployment rate in Utah drop to 2.5% compared to the national average of 3.6%.
St. George is the fastest growing and Utah’s most top heavy economy in all of Utah according to Mark Knold. The Utah economy has been amazing because we have been able to increase our employment at the rate that we have. According to the Saint George News in a 12 month time period Utah has been able to open 62,900 job opportunities.
This is not up to date and I’m not sure how accurate this is but it still shows that Utah is very well off on the unemployment rate. We are the lowest unemployed state in the nation and even from 2020 we have gone down from 4.5% to 2.5% for the unemployment rate.
Utah has grown in the private sector jobs by 3.5% this means we have more opportunities in jobs like, trade, construction, and financial activities, etc. Utah has also lost certain job opportunities such as leisure and hospitality, education and health care, and professional business services which was a big setback for us.
Having the unemployment rates as low as we do in Utah has helped the economy to stay in a safe spot. Mark has said that he looks forward to seeing what will come of Utah because our unemployment rates are so low. This means we will be able to grow in so many different areas very quickly.
Mark Knold talked about the increase in construction jobs. This is very important for Utah because the housing market has skyrocketed just barely and it will all die down if we can build more houses. This will also be very good for helping build other businesses and increasing the locations of our businesses.
Mark Knold also talked about the slight increase in unemployment back in April from 1.9% to 2.0%. He said that this is not something that we should be worried about and that it was the cause of the economy reawakening and everything opening back up from the covid stuff.
Mark also talked about how we have a lot of young workers which is really good because younger workers are more active and they are more driven to accomplish great things. It is also better to have younger workers for physical labor and anything that can be straining for someone.
Mark is a very determined person who does not stop when he is in a good spot or when things get easy. He keeps on pushing even when we are past the all time low for unemployment. He also seems like someone who has a lot of knowledge on the subject because he has done so much to increase the job opportunities and help the state.
Mark has been awarded senior economist and he has been selected as the featured speaker at the economic speakers showcase. He has been a large contributor to the all time low of Utah’s 2.0% unemployment rate. His annual wage has increased by almost $60,000 since he has started as an economic consultant.
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