OCR Text |
Show Volume XIII THE Issue X OGDEN VALLEY NEWS March Page 13 1, 2006 Weber, Davis County Small Businesses May Be Facing Even Higher Financing Costs e The U.S. economy added 193,000 net new Jobs i in January, short of economists’ projections. However, the two prior months were revised higher by 81,000 jobs. The U.S. unemployment rate declined to 4.7% EVEN The HIGHER latect 1, RATES? 1 vides the Federal Reserve with the justification to tighten monetary policy again on March 28, taking its key federal funds rate to 4.75%. The Fed acted as expected on January31, pushing the target rate to 4. “i %. e Fed’s concern? A declining unemployment pe aad places upward pressure on fa os ‘What would be good for workers eae freien sia Fed troubleshooters. Fed Fiouieaatibs also recognize, as do financial professionals, that the weak 1.1% real annual growth pace of 2005’s final quarter was a temporary aberration The employment data also provides“ “cover” for the Fed to possibly tighten for a 16th consecutive time (following mecings held roughly every 45 days of the Fed’s Open Market Committee) on May 10, pushing the = to 5%. And, for the first time, recent economic developments will lead to serious discussion within the financial community of the Fed potentially moving beyond the 5.00% federal funds cap that Wall Street had viewed in TELLURIDE WITH STYLE LAND Washington County payrolls expanded by 3,900 jobs (8.6%) in the past year. The unemployment rate was 3.1% in the latest month, down from 4.0% one year ago. NATIONAL EMPLOYMENT The U.S. Department of Labor reported a net gain of 193,000 jobs in January 2006, below Wall Street’s projected gain near 240,000 jobs. However, net job gains in asd and December were revised higher by 81,000 The U.S. economy added roughly two million ZIONS 43% d £ 1 year ago. 40, 1 : HOME VIEWS OF ON FIVE net new jobs in 2005, as compared to 2.1 million net new jobs in 2004. Net job growth me averaged 18 million jobs annually during the past1 The U.S. unemployment rate ed to 4.7% in January, the lowest level since July 2001. compari ison, June 2003’s 6.3% rate was the highest in nine years. Goods producing industries saw a net increase of 58,000 jobs in January, with a gain of 7,000 manufacturing jobs, the third gain in four months. The i Ided imated 46,000 jobs last month, aided by warm weather. The nation’s service providing sector added 135,000 net new jobs in January, led (as usual) by the addition of 39,000 jobs in health care and education. A rise of 26,000 jobs was recorded in leisure & hospitality (hotel) jobs, while professional & business services added 24,000 new jobs in January. For more information, contact Zions Bank’s Eden Valley office at (801) 745-0835. Additional information on Zions Bank is available at <www.zionsbank.com> Jeff Thredgold, Thredgold Economic — Economic who works a SNOWBASIN. $1,700,000 * EXCLUSIVE ¢ 1031 *NEW PROPERTIES EXCHANGE CONSTRUCTION BRANDI Local °¢ INVESTMENT *DEVELOPMENT HAMMON Innovative Specialist 801-389-4438 BRANDI@PINEVIEWPROPERTIES.NET CUSTOM SAB MOUNTAIN ore PRIVACY RUSTIC HOME IN SKI LAKE ESTATES Ak AND VIEWS LIBERTY WITH RETREAT THIS. ON S NEW CUSTOM MOUNTAIN HOME, MUCH are Nae mre SPACIOUS RESORT HOME NEAR WOLF CREEK GOLF CouRSE. SUR- ROUND THEATER SYSTEM, RUSTIC WOODS, GRANITE COUNTER TOPS ACRES. $1,100,000 HARDAND MORE! LAND AVAILABLE: HUNTSVILLE 10.17 ACRE LOT $725,000 WOLF CREEK LAKE VIEW LOTS $299k - 339K NORDIC AMAZING EVERY VIEWS ROOM. FEBRUARY FROM LIBERTY ' $699,000 HORSE READY PROP - ‘W CARPET 2006. AND $349,000 LAND PAINT. ADDITIONAL AVAILABLE. $349,000 VALLEY PRESERVE HAWKINS VIEW BUILDING WOLF CREEK LOT LOTS $239,000 FROM GOLF COURSE CREEK ESTATES Bank part time on Thursdays and Fri iday: Allen added that the clients of the Eden Valley Market branch have been a factor in the branch’s success. “We have to compete against larger branches in the region and we won again because of our customers,” she said. “No other branch has clients like we have in the Valley. This year marks the second that Zions Bank has recognized “Branches of the Year.” Winners from the bank’s seven retail regions were selected for ranking highest in several areas of criteria. Bank is Utah’s oldest financial institution, and is the only local bank with a statewide distribution of branches. In addition to a wide range of traditional banking services, Zions offers a comprehensive array of investment, mortgage, and insurance services, and has a network of loan origination offices for small businesses nationwide. The company is also a leader in providing electronic banking services, including electronic municipal bond trading. Founded in 1873, Zions has been serving the communities of Utah for more than 130 years. For more information, contact Zions Bank’s Eden Valley branch at (801) 745-0835 or visit <www.zionsbank.com> oe ” WELT ACRES Zion: (801) 533-9663 ©2006 ThredgoldEconomic Associates cont. from page 1 Jordan Bowen and Krysti Branz cer. A resident of Plain City, she has three daughters who are actively involved in rodeo. Bowen has worked for the past two years as a cashier for the Eden Valley Market. A resident of Liberty, she is also a full-time student at Weber State University. Other staff members include Krysti Branz, a full-time financial service representative supervisor; Lindi Pratt, a financial service representative supervisor who works part time on Mondays and Tuesdays; and Melanie Eyres, a financial service Davis County payrolls expanded by 4,700 jobs AVAILABLE. BANK Randolph, and most recently worked at the bank’ S Harrison Blvd. bi new jobs annually during the 1994-2000 aid and a net loss of 1,300 jobs in 2001 through 2003. oo job gains, leading to greater income creation and rising retail spending, has a positive impact upon Utah’s small businesses—and therefore, the Index. Ind The Zions B Lk mall B for Utah was 106.6 during January 2006, down from a revised 108.2 during December 2005. 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. LOCAL PERFORMANCE Weber County experienced job growth of 2,900 jobs (3.1%) from a year ago. Joblessness registered MOUNTAIN UNOBSTRUCTED ADDITIONAL (5.0%) in the past year. The unemployment rate was 3.7% in the latest month, down from 4.4% one year ago. Cache County employment grew by 500 Jobs (1.1%) in the latest 12-month The area’s jobless rate was 3.1%, down from the 33.6% rate of one year ago. Salt Lake County employment rose by 18,900 jobs (3.4%) over the yeat. The county’s unemployment rate fell to 3.8% in the latest month, down a a 9% last year. tah County employment grew by 7,500 jobs (4: tn over the last 12 months. The area’s jobless rate was 3.5%, down from the 4.4% rate of one year 00. recent months as the ultimate stopping point. The Utah Small Business Index is based on the viewpoint of the small business owner or manager and assumes that most small businesses are borrowers. As a result, a rise in financing costs is anegative contributor to the Index. MPLOYMENT The Utah unemployment rate-the most heavily weighted component of the Zions Bank Small Business Index for Utah-was estimated at 3.8% in the latest month, down from the prior month’s 4.0% rate. The current3.8% rate compares to a jobless rate of 5.0% during the same month one year ago. 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 4.6% in 2005, 5.2% in 2004, 5.7% in 2003 and in 2002, and 4.4% in 2001. By comparison, the3.4% average during 2000 was one of the lowest annual rates since the early 1950s. These rates compare to average Utah unemployment rate of 3.5% ane 1995 and 1999. Total Utah employment rose by an estimated 44,000 jobs (up 3.9%) over the past 12 months, one of the strongest annualized gains in 10 years, and the fourth strongest job growth rate in the nation. This rise compares to a revised gain of 41,800 jobs in the he prior year-over-year period. 2 Go HIGHLIGHTS e The Zions Bank Small Business Index for Utah declined to 106.6 in January 2006, down from a revised 108.2 in December 2005. e Utah’s unemployment rate was estimated at 3.8% in the latest month, down from the prior month’s 4.0% rate. Total Utah employment is up an estimated 44,000 jobs during the past 12 months. e Weber County experienced job growth of 2,900 jobs (3.1%) from a year ago. Joblessness registered 4.3%, down <a the 5.4% unemployment rate one year agi e Davis County payrolls expanded by a 700 jobs (5.0%) in the past year. The unemployment as 3.7% in the latest month, down from / go. e Tightening U.S. labor markets and solid economic growth projections raise the odds of additional tightening moves by the Federal Reserve, following a 14th such move on $ 185,000 LOTS $349k - $395k - LOTS STARTING AT $395k |