OCR Text |
Show A7 Wednesday, July 9, 2003 Vernal Express Job rates go up slightly The seasonally-adjuste- d unemployment rate for June registered 5.2 percent, a minor decrease below Mays 5.3 percent measurement. 63,300 Approximately Utahns were unemployed in June 2003. Last June, 68,900 Utahns were unemployed. Mark Knold, Senior Economist for the Department of Workforce Servies (DWS) said, Its good to see the rate down as compared to last year at this time. The rate began moving down at the end of 2002, but throughout 2003 it has remained essentially flat. Its an indication of an economy not adding new jobs, but still experiencing chum and turnover within its existing job market. Unlike other parts of the state, in Uintah Basin the seasonally adjusted unemployment rate is to be 6.4 or up from there advised rate of 5.4 last year. Utahs other primary indicator of current labor market conditions, the year-ovchange in the number of nonfarm wage and salaried jobs, declined, falling to 0.2 percent. This statistic had been trending modestly upward, and the revision of Mays measurement had the job market gaining by 0.1 percent. But Junes measurement reflects a minor setback. It also means there were 1,900 fewer jobs this June than recorded a year ago. Raylene Ireland, Executive Director of the Utah Department of Workforce Services noted, The run up in energy prices and the rundown in stock prices preceding the Iraq War is still playing out. Right when you hoped the economy might start to build, some obstacle emerges to release the steam. I wouldnt be surprised if we continue to see this pattern as this year unfolds. Nationally, the number of unemincreased by persons ployed 9.4 in June to million, and 360,000 the unemployment rate rose from 6. 1 in May to 6.4 percent. In June, there were 2.0 million unemployed persons who had been looking for work for 27 weeks or longer, an increase of 410,000 over the year. They represented 21.4 percent of the total unemployed, up from 18.8 the for-cast- er -- forward-and-backwa- rd percent a year earlier. The natio is job count for the second month in a row remains negative at 0.3 perThe cent (not seasonally-adjustedemployment count has persisted at just below the growth threshold throughout 2003, an obvious indication of a stagnant economy. Nationally, in June, there was 131 million jobs. The Utah economy was slowly moving forward, looking like it was on the verge of going back into employment positive year-ovgrowth and staying there. But Junes numbers suggest it's not to at least not yet. This loss is be probably just more effects from the high energy prices of the months leading up to the Iraq War. Energy prices have since fallen, and its anticipated that the economy will shortly experience benefits from this decline, although those benefits may be minimal. The stock market could also be a factor. It bottomed out in the months leading up to the Iraq War. The economy can take three to eight months to adjust and move in the same direction as the market, so the market decline back then could be playing out in the economy now. The economy doesn't always fol -- ). zero-perce- nt er - low the stock market, but it has done it enough in the past, so you have to consider its impact. The market has risen by 20 percent since its nadir in March, and some technology stock indexes have risen even further. These all bode well for the economy later this year. Still, the economy faces some sizeable obstacles. Among them, more cutbacks in the airline industry. The automobile industry could see layoffs, as their current labor contracts will soon expire. That effect into the could have a spin-of- f parts industry as well. Natural gas prices have risen sharply and short supplies are expected to keep the prices high. This affects many consumers and industries. And then the market. theres housing it a has been Recently, support to even in the face of the economy this prolonged economic downturn. Without these historically low mortgage rates and the impetus it has provided to the housing market, the economic performance would be even worse. But all this housing activity is likely stealing future demand. In other words, when rates go back up, who will be the buyers? Right now this market is help- - ing to drive the economy. But its easy to imagine that in two years these roles will have to reverse, and the economy is going to have to drive the housing market. It was a downturn in employment in professional and business services that changed the overall Utah picture. This industry has been on side of the ledger, the losing-job- s but the losses seemed to deepen in June. This may just be a temporary blip, as temporary help workers are classified in this industry, and their levels can fluctuate rapidly depending upon the economic mood. This is one of the prime tools businesses now use to make quick adaptations to the market. Manufacturing remains a sore spot. This industry just keeps sliding with employment losses, as firms read just and some jobs actually move overseas. It's been going on for so long that the slides end will only be believed after it has Wed" 5 58 am. Thu 5 5 5 5 5 fri. Sat Sun .niSim 57 a m 57 a.rft. 58 a m 59 a.m. 59 a m. 6:00 am. Mon Tue 8:50 8 50 8:50 8 49 8:49 8 48 8'48 pm, wed. pm p.m: p m p.m. p m. p.m. Thu. Frt. Sat Sun. So as for now, Utahs new-jo- b picture is still lifeless. This doesnt mean we havent given up hope for some growth to emerge later this year, but what has occurred during the first half of 2003 has caused Workforce Services to lower its projected 2003 Utah employment growth rate to basically zero Regional Traveler's Cities Rise Set 4:47 p.m-04 p m. 2:11 2 46 a m. '7:18 p.m.8 25 p m. 9:21 p.m. 1 0 06 p m 4 23 am 5:26 .mT 6 36 a m 10:42 i.m.T7:48 a.m? Mon Tue. : Last July 13 July 21 HAVE A LOOK AT THESE GREAT SAVINGS ON OUR NEW VEHICLES! First o t July 29 forecasts and maps provided by AccuWeather, All Inc. Aug. 5 Rebate Discount $2,000 JO $4,500 Discount 03 Dodge 2500 $2, 500 Rebate $2,000 Discount $4,500 Discount 03 Dodge 2500 $2,500 Rebate $1,500 Discount 03 Jeep Liberty $1,500 Rebate $5,000 Rebate $500 Discount 03 Dodge Grand Caravan $4,250 Rebate $5,500 Discount Lo W HI 90 54 s Cheyenne. WY 88 54 s 86 54 s 86 56 s 86 56 s Duchesne, UT 90 55 s 93 56 s 92 57 s 90 57 Evanston, WY 81 52 s 83 53 s 81 53 s 82 53 s Idaho Falls, 83 47 8 85 47 s 86 48 s 85 47 8 90 65 s 94 63 s 92 63 s 90 62 s 85 49 s 88 50 s 89 51 s 86 51 s Provo. UT 90 62 s 94 60 S 92 60 s 90 61 8 Rangely, CO 95 52 s 99 53 S 98 55 8 95 56 8 Roosevelt, UT 90 54 s 93 55 s 92 57 s 92 57 8 04 77 8 99 74 8 Ogden, UT Pocatello, 5fc 85 86 ID wptt ID 107 75 St. George, UT Weather (W) S 104 77 8 1 pc partly cloudy c cloudy, flumes 04 Chrysler Pacifica $3,000 Discount BUYBACKS HAVE A FACTORY 3 YR.35.000 MILE WARRANTY PLUS AN ADDITIONAL SYR 175, 000 MILE CHRYSLER POWERTRAIN WARRANTY! O THE MOST AFFORDABLE JOHN DEERE LAWN TRACTORS EVER. Now you can get John Deere rehabllty and durability, at g Series offers welded frames for a smooth, 01 Dodge Stratus Was $13,200 02 Dodge Grand 03 Dodge Neon Was Was $11,800 Was $12,900 $18,300 Rodeo Price $12, 500 Rodeo Price $12,700 Rodeo Price $17,300 Rodeo Price $ 1 1 ,300 02 GMC Sierra Was $30,000 Rodeo Price $29,000 99 Pontiac Grand PrixGT Was $8,500 Rodeo Price $7,899 dealer Cutting System for a precise cut and the support John Deere is famous for, all at a starting price of just $1,499. Plus, with the John Deere Promise, you cen buy eny L110 $1799 COPY 1120 $2199 6 99 Ford Expedition Was $15,500 Rodeo Price $14,500 IXZZ To Locate A John Deere Dealer Near You, Call: (Toll wssssxm affordability. The 100 ride. The Edge lawn tractor and return it within 30 days if you're not satisfied. So why wait? Come see the brand new 100 Series today. QUALITY USED TRADE - INS W 90 54 s CERTIFIED FACTORY BUY BACKS 02 Dodge Intrepid Lo 88 52 s $4,000 Discount 03 Dodge Neon $2,500 Rebate Only $13,575 HI 90 52 s reforms, 03 Dodge Durango Saturday Friday Lo W HI Casper, WY mm'Mm Wednesday m. Noon . 6 p.m. Lo W HI 2003 ACCU WEAThERS REALFEEL TEMPERATURE The ex 'usive AccuWeather composite ot the effects of temperature, v id hur litv -- unsl P Wednesday Thursday City ! Moon Phases Full The Vemal City Council voted July 2 to add three new restrictions to the existing city billboard ordinance. The changes will not affect existing billboards, which are protected from the change by state law. The ordinance requires billboards to be at least 500 feet apart with a maximum height of 40 feet. They must also be approved by the Utah Department of Transportation. The new additions to the ordinance now restrict billboards within the city limits to a maximum size of 200 square feet and they must be positioned at least 75 feet from any signs on the premises. In addition, future billboards will be allowed only in industrial areas of the city. The existing billboards in the business areas of the city will not be affected, nor will the two recently erected signs which are both over 600 square feet in size. out. Moon Set billboard ordinance employment is rising in response to education and security needs. All other industries are either slightly losing or slightly gaining in employment, and in the overall effect tends to cancel each other Sun Rise Vernal City adds to actually happened, because anticipating its end has been a fruitless game. Education and health services continue as the economy's bright spot, adding around 3,000 new jobs across the year. And government Free 888-669-7767) s |