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Show SOUTHERN UTAH NEWS WEDNESDAY AUGUST 15, 2001 5 Community Utahs economic growth pace remains on solid ground According to the Summer 200 1 c issue of Zions Banks News of Utah and the Nation , the economic growth pace in Utah has been solid, if unspectacular, so far this year. Insight-Economi- An expected retufn to more impressive U.S. and North American economic growth later this year and next should result in the states economy growing at a slightly faster clip nextyear, said Jeff Thredgold, economic consultant to Zions Bank and author of Insight. Utahs tight labor market will continue, with many employers struggling to find skilled workers. The big unknown is to what extent another possible surge in Califorcould transnia late into more rapid Utah growth in coming years. out-migrati- during 2001, in line with the stable growth rate of the past three years. The slowdown from the breathtaking Utah growth pace during 1993 to 1997 is tied to tight labor availability, a major decline in net to the state, and more recently, economic sluggishness in the U.S. and throughout North The states jobless rate has age annual pace during averaged 3.7 percent year-to-dat- e. This rate compares to the 3.2 percent average last year, which was just above the lowest unemployment rate in 50 years. We currently expect net Utah employment to rise by 2.2 percent to 2.6 percent in 2001, following by 2.4 percent to 2.8 percent growth in 2002. These gains America. Even as Utahs growth pace would be comparable to 2000s . has slowed, it remains among 2.7 percent growth pace, but half the vigorous 5.3 percent aver the nations strongest. percent from the year 1997. before, and up 6 percent from factor the previous record set in the Perhaps the major influencing Idaho and the West 1998-9- 9 season. over the next 36 months is anUtah home resale activity other possible surge in Califor- remains reasonably solid, alCalifornia though permits issued for new nia economic weakness between single-famil- y homes will decline 1991 and 1995 induced roughly this year versus the prior three 1.3 million Californians to pack years. First quarter 2001 home up and leave, fueling population sales statewide rose more than 9 growth in most Western states. percent, although average prices A record 3.35 million skier rose only about 1 percent to days were recorded last ski sea $154,000. out-migratio- 1993 to son, up 11 n. on The quarterly Insight publi- cation features updates on current and projected economic and financial developments for the state of Utah, the Intermountain region, and the nation. The Summer 2001 issue also features a look the expected economic impact as the baby boomers approach retirement. Following are a few highlights from the Utah Economic Outlook section of the Summer 2001 issue: Economic growth in Utah has continued at a solid pace Barn fire A bam full of hay burned after it caught on fire last Friday. The Kanab City Fire Department put out the blaze, but not until it was a total loss. vi ON OVER WHILE YOURE f "o s jlkstfiest Inn IN TOWN. 'r ait i l fr tsfiiit umi f 4 ill |