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THE UTAH ECONOMY - 2011

THE UTAH ECONOMY - 2011. Presentation by James Wood Bureau of Economic and Business Research University of Utah November 2011. Forecast for Utah’s Major Economic Indicators Source: Governor’s Office of Planning and Budget . Year Over Percent Chg. in Utah’s Nonfarm Employment.

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THE UTAH ECONOMY - 2011

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  1. THE UTAH ECONOMY - 2011 Presentation by James Wood Bureau of Economic and Business Research University of Utah November 2011

  2. Forecast for Utah’s Major Economic IndicatorsSource: Governor’s Office of Planning and Budget.

  3. Year Over Percent Chg. in Utah’s Nonfarm Employment

  4. Employment Drivers in Utah2002-1010

  5. Nonfarm Employment in Utah

  6. UTAH EMPLOYMENT GROWTH BY DECADESource: Utah Department of Workforce Services.

  7. HOUSING PROBLEM: VANISHING DEMAND • Household Growth Slows. Larger households than expected. • Deep Job Loss Due to Great Recession. • Income & Job Uncertainty • Credit Troubles. Credit worthiness, foreclosures & short sales • Middle Class Struggles – occupy Utah, gini index; state (51), metro (52), place (WVC,WJ)

  8. Foreclosure Filings in Utah(Source: Mortgage Bankers Association)

  9. 2011 First & Second Quarter Short Sales & REO Sales as % of Total SF Sales. Source: WFRMLS.

  10. CHANGE IN MEDIAN SALES PRICE OF EXISTING HOME

  11. Change in Renters and Rental Inventory in Utah • .

  12. MAINTAIN PERSPECTIVE • 1.2 million people going to work everyday. • $95 billion in personal income. • $26 billion in retail sales. • 40,000 increase in population. • History of high growth – labor, demographics and transportation.

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