OCR Text |
Show Unemployment increases add to economic slowdown Unemployment in the Uintah Basin District (Uintah, Duchesne, Daggett counties) in third quarter 1980 in-creased in-creased 6.1 percent from third quarter 1979. Employment during the same period increased only 0.5 percent. Since unemployment grew faster than employment, em-ployment, the seasonally adjusted unemployment rate increased from 3.8 - to 4.0 percent. Daggett County was the only county in the district to experience a decrease in its seasonally adjusted unemployment rate (from 5.5 percent in third quarter 1979 to 4.6 percent in third quarter 19801, according the the third quarter Job Service "Employment "Em-ployment Newsletter." Unemployment insurance activitlet for the district (January-September 1980) show increases in the number of initial claims, in the number of a total weeks claimed, and in the amount of total benefits paid (when compared to January-September 1979). Daggett County is, again, an exception where all three unemployment insurance Indicators In-dicators declined. Further evidence of an economic slowdown is reflected in job market activities. During third quarter 1980 the number of new applications received at Job Service offices throughout the district dropped 2.4 percent, when compared to third quarter 1979. The number of job openings listed with Job Service declined 25.5 percent and the number of job placements fell 30.5 percent. Economic indicators for the Uintah Basin District, which are measured in dollars, show the effects of inflation and the recession. Gross taxable sales for the district was up 12.3 percent in second quarter 1980 from second quarter 1979. However, inflation, as measured by the national consumer price index, decreased the value of the dollar by 14.4 percent during this time. Therefore, the district's gross taxable sales actually declined 2.1 percent. However, Uintah County kept pace with inflation with a 17.5 percent increase. Daggett and Duchesne counties actually ac-tually experiences declines in gross taxable sales when adjusted for inflation. in-flation. Tourist room sales throughout the district during the second quarter 1980 dropped 23.1 percent from second quarter 1979. When adjusted for inflation, in-flation, room sales dropped nearly 37.5 percent. This represents a $221 thousand loss in potential revenue for the district (third quarter 1979 dollars.) Building construction valuation throughout the district reflects a continuation of the building slowdown associated with the current recession. For the period of January-September, total building construction valuation in the district was 45.9 percent lower in 1980 than in 1979. Only the valuation of nonresidential additions, alterations and repairs construction increased during this time. Oil and gas production in the district for Janaury-June showed a 1979 to 1980 decrease of 8.2 percent in oil production and an increase of 34.3 percent in natural gas production.' Daggett and Uintah counties had " year -over ! increases in-creases in oil and gas production, while Duchesne County experienced decreases in oil and gas production concluded the Job Service report. |