Overall trend of Utah’s economy is changing slowly even with rapid changes because of the pandemic

Associated Press

Because of the coronavirus, Utah, like other places, finds itself in a recession. On KVNU’s For the People program on Tuesday, Mark Knold, chief economist for the Utah Department of Workforce Services ,said this has impacted certain industries much more severely than others.

“And so you’re having job losses in like the leisure and hospitality industry, but hardly any loss at all in some of the other areas. Construction is still going strong, so you can have these cyclical back-and-forth, given short term conditions. But there is this long-term underlying trend beneath it all,” Knold said.

He said the long-term trends is what economists try to follow when they do industry and occupational projections.  He said there are certain industries in Utah and in Cache Valley that have a competitive advantage and that is why they are thriving. Knold said the pandemic has driven many to work from home and it has shown it can be done successfully and also help the environment and air quality.

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