Utah boasts extremely low unemployment rates at 5.4 percent as of September 2012. KCSG News reports that this is the latest drop in Utah’s steadily decreasing unemployment levels, while the national unemployment rate hovers around 8 percent.
Salary Averages for Utah Economists
The Bureau of Labor Statistics (BLS) reports strong salaries for economists in the state. The average salary of a Utah-based economist was $76,790 or $36.92 per hour as of May 2011.
According to the BLS, there are 40 public sector economists working in the state, but many more professionals in the private sector with backgrounds in economics. The average salary for the 4,270 management analysts in the state was $68,670.
As of 2011, the average economist salary in Utah’s major cities were as follows:
- Logan, $59,460
- Provo, $66,500
- Salt Lake City, $66,500
Economist Positions in Businesses and Government
The Huntsman Corporation, headquartered in Salt Lake City, is a Fortune 500 company that supports many private sector careers in economics. The average revenue for this company is $11.259 million, as of fiscal year 2010. Economic analysts at Huntsman are charged with tracking trends and creating forecasts for best spending and investment practices.
Other major employers of business and managerial economists in Utah:
- Complete Merchant Solutions, Provo
- Edge Homes, Orem
- Media Forge, Midvale
Most local, state and federal agencies require the expertise of astute economists. These experts advise lawmakers on the best avenue for public spending, and often serve in the offices of the Utah Department of Workforce Services and the Utah State Tax Commission.
Networking Opportunities for Economists in Utah
Affiliating with a local organization such as the Utah Economic Development Corporation shows dedication to improving and discussing Utah’s economy.