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Show Page 12 THE OGDEN VALLEY NEWS Volume IX Issue I October 15, 2003 Utah’s Small Businesses Should Benefit From Stronger Global Economic Growth HIGHLIGHTS The Zions Bank Small Business Index for Utah dipped to 93.8 in August 2003 versus a revised 94.5 in July. Utah’s unemployment rate was estimated at 5.1% in August 2003, down slightly from July’s 5.2% rate. Total Utah employment is down an estimated 3,500 jobs during the past 12 months. Expected strengthening of the global economy, led by the U.S. and China, should positively impact the Utah economy over the next 18 months. The nation’s unemployment rate was 6.1% in August - - down from July’s 6.2% rate - - while net U.S. employment declined by 93,000 jobs STRONGER GLOBAL PERFORMANCE Improving U.S. economic growth now underway should be met by stronger global economic performance over the balance of 2003 and throughout 2004. uch of the stronger global growth pace will come from the Pacific Rim. China—already the world’s fourth largest industrial power—has seen its powerful growth pace re-ignite after the SARS-related slowdown during April and May of this year. In addition, Japan is showing more signs of emerging from its 12-year economic malaise, while South Korean growth is solid. European growth has been extremely weak, but better news is slowly emerging from the region as well. Growth in the United Kingdom is sluggish but should benefit from stronger growth around the world. Russian growth is steady. South America is showing more signs of improvement after considerable chaos in Argentina, Brazil, and Venezuela. Mexican growth is erratic, but should improve as the U.S. improves. Canadian growth slowed sharply in 2003’s second quarter, but should pick up speed in coming months. Risks to global improvement include major acts of terrorism, an escalation of conflict in the Middle East (or elsewhere), and a major return of the SARS virus. Global economic performance is a component of the Small Business Index. UTAH EMPLOYMENT The Utah unemployment rate—the most heavily weighted component of the Zions Bank Small Business Index for Utah—was estimated at 5.1% in August 2003, down slightly from July’s 5.2% rate. August’s 5.1% rate compared to a jobless rate of 6.0% during August 2002. A lower Utah unemployment rate is a negative contributor to the Index as it implies decreased access to Utah labor. Utah’s unemployment rate averaged 6.1% in 2002 and 4.4% in 2001. By comparison, the 3.2% average during 2000 was one of the lowest annual rates since the early 1950s. These rates compare to an average Utah unemployment rate of 3.5% between 1995 and 1999. Total Utah employment declined by an estimated 3,500 jobs (down 0.3%) over the past 12 months. This drop compares to a revised loss of 2,900 jobs in the prior year-over-year period. These totals compare to gains averaging 38,300 new jobs annually during the 1994-2000 period. Weak job growth or actual employment declines, leading to lesser income creation and weaker retail spending, has a negative impact upon Utah’s small businesses and, therefore, the Index. The Zions Bank Small Business Index for Utah declined to 93.8 during August 2003 from a revised 94.5 during July 2003. The Index measures business conditions from the viewpoint of the Utah small business owner or manager. A lower Index number is associated with less favorable business “conditions” for Utah’s small businesses. The Index uses 100.0 for calendar year 1997 as its base year. The Index also includes revisions to various historical or forecast components as they become available. NATIONAL EMPLOYMENT The U.S. Department of Labor reported the net loss of an estimated 93,000 jobs in August 2003, much weaker than Wall Street’s expectation of a slight gain. In addition, July’s originally reported decline of 44,000 jobs was revised to a loss of 49,000 jobs. The U.S. unemployment rate was 6.1% in August, down from July’s 6.2% rate. June’s 6.4% rate was the highest in nine years. We would suggest the jobless rate for this cycle of economic weakness probably peaked in June. The nation’s goods-producing sector lost 26,000 jobs in August, led by the loss of another 44,000 manufacturing jobs. The manufacturing sector has now lost jobs for 37 consecutive months, with more than 2.6 million jobs eliminated since mid-2000. Construction added 19,000 jobs in August, the sixth consecutive monthly rise. Service-providing employment fell by an estimated 67,000 in August. Temporary jobs rose by 7,000 in August, following a rise of more than 85,000 jobs in the three prior months. The rise in “temp” positions is a good indicator of gains in permanent employment in coming months. Health services added 25,000 jobs in August. Zions Bank is Utah’s oldest financial institution, and is the only local bank with a statewide distribution of branches, operating 126 full-service branches throughout Utah. Zions For more information, contact Zions Bank’s Eden office at (801) 745-0835. Additional information on Zions Bank is available at www.zionsbank.com. VALLEY REALTOR versus downtown realtor YOU DECIDE. You decide who you want on your team. * Valley Realtors work, shop and play here. EDEN $105,000 3615 Wolf Creek Drive #606 2 BD, 2 BA End unit condo Fully furnished. Paul Judd 814-5667. MLS# 374849 * Valley Realtors care about the Valley because they live here. OGDEN, Utah -Weber State University’s Department of Nursing is seeking help in contacting alumni in conjunction with its 50th anniversary celebration. The nursing program is planning a special event October 24 in Ogden, but in sending out invitations to alumni, officials discovered a problem with school records. “In the early days of our program, the records didn’t clearly identify students as being enrolled in the nursing program,” said Debra Huber, chair of the nursing depart- ment. She said some alumni might not have received an invitation because contact information is outdated or incomplete. “This is a special milestone that we want to share with all of our alumni,” Huber said. “Even if they can’t attend the event, we still would like to reconnect with them.” WSU nursing alumni who have not received invitations are encouraged to contact Suzanne Budge at 801-626-6142 or sbudge@weber.edu U.S. FOREST SERVICE cont. from page 1 Bridge, and Navajo Lake (lower loop) are open with no water and no fees. Escalante Ranger District: Pine Lake, Posey Lake, Blue Spruce, and Barker Campgrounds will open with no water or fees. Pine Valley Ranger District: Equestrian, Oak Grove, and Honeycomb Rock campgrounds will be open until October 25 with no water or fees. Powell Ranger District: King Creek will be open for half price with no water. Red Canyon will be open until October 20 with no water, and half price. Teasdale Ranger District: Oak Creek and Upper Pleasant Creek will be open with no water or fees. FISHLAKE NATIONAL FOREST (435) 896-9437 Beaver Ranger District: Cedar Creek, Kents Lake, Little Cottonwood, Mahogany Cove, and Little Reservoir campgrounds will be open with no water and a half price fee will be charged. Fillmore Ranger District: Maple Grove, Adelaide, and Oak Creek will be open with no water and with fees. Loa Ranger District: Tasha Equestrian, Sunglow, Elkhorn, and Piute campgrounds will be open with no water and a fee will be charged. Richfield Ranger District: Gooseberry Campground will be open with no water and with fees, but be aware there is heavy road construction in the area. MANTI-LASAL NATIONAL FOREST (435) 637-2817 Ferron Ranger District: All campgrounds will be open with no water and a $3.00 fee per vehicle. Moab Ranger District: All campgrounds will be open depending on the weather with no water and half price fees. Monticello Ranger District: All campgrounds will be open with no water and half price fees. available at Forest Service Offices. If you are planning to use livestock on National Forest lands, remember that you are permitted to use only certified weed free straw, hay, or pellets in order to help prevent the spread of Noxious Weeds. Hunters, please also remember to always carry extra water and food, and to take along extra clothing in case the weather turns bad. Also, always wear your orange. The following is a listing of Forest Service campgrounds that will be open for the 2003 deer hunt: ASHLEY NATIONAL FOREST (435) 789-1181 Duchesne Ranger District: Hades, Aspen, and Iron Mine will be open with fees, but no water. Avintaquin Campground will be open with fees but no water until November 1, 2003. Flaming Gorge Recreation Area: Dripping Springs, Lucerne Bay, Carmel, Willows, Mann’s, and Sheep Creek Bay campgrounds will be open with no water, but with fees. Individuals using the Flaming Gorge National Recreation Area will have to pay a use fee. Day passes are $2.00, 16-day passes are $5.00, and annual passes are $20.00. Passes are available at Forest Service Offices in Salt Lake City, Ogden, and Manila, Utah; and in Evanston and Green River, Wyoming and local businesses in and around the Flaming Gorge area. Roosevelt Ranger District: All campgrounds will be open with fees and no water. Vernal Ranger District: East Park, Iron Springs, Kaler Hollow, Oaks Park, Paradise Park, White Rocks, and Red Springs campgrounds will be open with no fees and no water. DIXIE NATIONAL FOREST (435) 865-3700 Cedar City Ranger District: Duck Creek (loop A), Panguitch Lake South, White 2003 CLOSED SALES ARE UP 63% OVER 2002 THUS FAR * Valley Realtors know this area. * Valley Realtors families go to school, church and work here. WSU’s Nursing Program Seeking Alumni Information We Need Listings * Valley Realtors donate thousands of hours of community service here. U.S. FOREST SERVICE cont. on page 13 SOLD NORDIC VALLEY 3790 East 1950 North. Paul Judd 814-5667. MLS# 328840 $185,000 SOLD * Valley Realtors sell more homes, lots, land and condominiums. * Valley Realtors money stays in the Valley helping to support your businesses. Call Paul L. Judd 801-745-5667 Serving the Upper Valley for 19 years. 5460 East 2200 North Eden, Utah HUNTSVILLE $500,000 6900 E Street. Lake shore property! Has subdivision possibilities. Paul Judd 814-5667. MLS# 335628 LIBERTY $189,900 3450 North 5100 East. Ready to build. Has all utilities. Stream runs through it. Paul Judd 814-5667. MLS# 333889 HUNTSVILLE $93,900 1100 N. Maple Dr. Beautiful secluded canyon homesite w/ terrific views of mountains and valley. Paul Judd 814-5667. MLS# 357031 LIBERTY $45,000 3300 N. Hwy 162. Level lot on main road with seasonal stream. Paul Judd 814-5667. MLS#362486 LIBERTY $239,000 3183 East 5400 North. Tons of home for the money. 6BD, 3 BA, FR, Fenced yard. Paul Judd 814-5667. MLS# 368198 Paul L. Judd Manager/Broker/Owner Great American Realty Multi Million Dollar Producer for past 15+ years 7 4 5 -6 0 0 0 814-5667 Cell phone 745-6000 Office 745-5667 Home Anytime |