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Show Serials Order Dept. University of Utah SLC,Utah 84112 f SALT LAKE CITY, UTAH VOLUME 1, NUMBER 33 Construction Lake-Tooe- Transportation-communication-utiliti- over-the-ye- ar bers of people working or wanting work. Total individuals employed numy bers 237,200 in the area. The increase from last month amounts to 1,600 persons (0.7) and 14,600 persons (6.6) from last year. This individual job growth is also unusally good. Total payroll employment (this e includes both jobs and numbers part-tim245,400 jobs) jobs, a 1,500. job (0.6) increase, from October and a 12,900 job (5.6) growth from November, 1973. This is a very good performance compared to the fifteen-yea- r average. Manufacturing employment now totals 37200 jobs, up from last month by 400 jobs (1.17c) and up from last year by 2,500 jobs two-count- full-tim- e, (7.1). Mining employment totals jobs at this time, the same as last month but up 400 (5.5) from November last 6,700 level jobs year. Self-employ- Mountain Fuel Gets Go Ahead On Rate Increases UNEMPLOYMENT, The number of persons in the area who are without work but who would like to work totals 12,600. This represents an two-coun- ty LAKE CITi The Utah Service Commission Friday Public SALT granted Mountain Fuel Supply Company authority to increase its rates and charges for natural gas service in Utah in the total annual amount of $7,198,508 to take effect in three incremental steps on November 18, December 1, and January 1, 1975. 'Mountain for the increase on October 25 to pass through to its customers the higher costs it is having to pay for natural gas purchased from pipeline companies, principally Northwest pipeline Corporation of Salt Lake City. In its application, Mountain Fuel pointed out that it had no alternative but to pay the higher costs if it was to preserve these important sources of supply, and that the increase being sought would not increase its profits whatsoever. In its report and tenative order, the Public Service Commission said it was "in the public interest for Mountain Fuel to recover increases in its cost of natural gas supplies concurrently with such increases," and "that permitting Mountain Fuel to recover such increases will not enlarge Mountain Fuel's rate of return beyond that previously found by this Commission to be just and reasonable . , ." Fuel-applie- es employment stands at 18,100 jobs which is above October by 100 jobs (0.6) and is up from last November by 900 jobs (5.0). Trade employment has reached 65,300 jobs, moving up 1,200 jobs (1.9) from last month and increasing in jobs from last year by 4,400 jobs (7.2). Finance - insurance - real estate employment totals 14,400 jobs which is the same level as last month but 700 jobs (5.0) above November, 1973. Service - nonprofit - miscellaneous employment numbers 41,600 jobs at this time, which is the same level as last month but 2,600 jobs (6.6) higher than test year at this time. Government employment now stands at 47,600 jobs, up 300 jobs up 1,100 (0.6) from October andNovember. last from jobs (2.5) State employment includes 17,000 jobs, down from October by 100 but up from last jobs year by 200 jobs (1.4). Local employment amounts to 18,900 jobs, 300 more (1.6) than last month and 600 jobs (3.4) more than in November, 1973. employment totals 18,900 jobs and agricultural employment totals 2,300 jobs. Both are down from last month but up from last year. This is the largest growth in the last fifteen years and probably the largest in many many years. This Labor force increase reflects growth in both numbers of jobs and in num- increase of 2,200 persons (21.2) from October and an increase of 900 persons (8.1) from November 1973. The increase from last month is about normal as compared to the long-teraverage. The increase from last year is above the average as it has been for most unof this year. The employment rate at the present time is 5.0 percent, the same level as last year at this time. The sameness of these two figures means that both employment and unemployment are growing. m d non-adjust- . .. MONDAY, NOVEMBER 25, 1974 num- down from level 500 jobs October but up a surprising 500 jobs (3.4) from last November. Civilian Labor Force totals 249,800 persons at this time, an increase 3,600 persons (1.5) from October and an increase of 15,500 persons (6.6) from November, 1973. employment bers 14,500 jobs. This puts the County le r 3udget Will Be Difficult to Balance In 1975-7-6 Slowdown Problem Holding Little Effect on Area Employment EMPLOYMENT The Salt y ed OUTLOOK Employment growth in the area is holding up well and is expected to do so during the foreseeable future. We seem, thus far, to be immune to some of the slowdown problems of other areas of the country, although inflation has a large presence with us. How long we can avoid these slowdown problems is anyones guess, but it could be for some time. Unemployment, however, is a problem and it is not going to go away as long as our labor force continues to grow faster than jobs. Utah's affluence of the past few years is coming to an end, and the State will encounter considerable difficulty in balancing its budget from present tax sources in the , period ahead. the several legislaDuring past tive sessions, Utah balanced its state budget without any major tax increase and still had substantial surplus available for a variety of capital improvements and other onetime expenditures. In fact, the State even was able to provide some tax reductions during this period. The 1975 Utah Legislature, however, be faced with the. difficult choice of approving a very austere budget for state and school operations next year or authorizing a tax increase. Among the factors that have contributed to Utah's rapidly deteriorating financial condition, according to the Foundation, are (1) a miscalculation in the effect of the 1973 income tax law changes, (2) rising inflation and the fact that state salaries are tied to changes in the index, (3) rapidly growing retirement costs for state and school employees, (4) the phase-oof the state property tax this year, and (5) the fact that some of the other revenue collections are falling short of expectations. Foundation analysis point out estithat based on their mid-ranmates and projections, if expenditure increases in 1975-7- 6 are limited changes, the merely to fund and the uniform state general school fund would have only about $2.7 million remaining to cover state building needs and amounts for any new or expanded programs. The 1973 Legislature appropriated $44 million for building and other e items, with an additional cost-of-livi- ng ut Supreme Court Decisions ge cost-of-livi- , See appropriated for this purpose by the 1974 Budget Session. When it became apparent that the State was going to face some serious financial problems in the period ahead, the Governor ordered a 3 cut in general fund and uniform school fund appropriation allocations for the 1974-7- 5 fiscal year. It is expected that these cuts will result in total savings of $5,135,000 for the year. The Foundation report lists the various options open to the 1975 Utah Legislature which will convene in January. These options include 1) reducing costs and cuting back on state programs by restricting legislative appropriations, (2) . restoring the use of the state property tax levy which in the past was used to balance the uniform school fund, (3) raising state individual income tax rates to make up the loss which resulted from the 1973 miscalculations, (4) increasing the state sales tax levy, and (5) raising other state tax rates such as the cigarette tax. In all likelihood, the 1975 Legislature will adopt some combination of the above options in order to balance the state budget during the forthcoming 1975-7- 6 fiscal year. $27 million will details page 5 ng one-tim- , Sales Tax Surpasses Property Tax as Leading Revenue Producer in Utah For the first time, the sales tax surpassed the property tax last year as the leading producer of state and local tax revenue in Utah. This was reported by Utah Foundation, the tax research organization in their latest, analysis of state revenues and expenditures in Utah. According to the Foundation study, state and local sales tax collections in Utah (including $5.4 million however, that the $15 million revenue excess does not represent an addition to free surplus, since substantial amounts were appropriated and committed to projects for which expenditures were not actually made in fiscal 1974. Balances in the restricted accounts at the close of the 1974 fiscal year, for example, were $30.5 million greater than they were at the end of fiscal 1973. Total state revenues in Utah rose by only $20 million or 3.2 . : Public welfare expenditures in Utah amounted to $76.6 million (12.0 percent of total spending in the 1974 fiscal year. Thissum was down from the fiscal 1973 total of $80.5 million. In January, 1974, the Federal Government assumed . Probate Court 3 New Partnerships 3 3 3 Liens Murray Power Third District Court Supreme Court Decisions 4&6 ...... Small Claims 10&23 Suits Marriajres "Bountiful Power Building Permits Water Service New Corporations Murray City Court . . 10 10 . . 11 11 11 12 Uniform Commercial Code Filings Attorney General Opinion Divorces 13 15 22 22 23 24 24 24 Mortgages Warranty Deeds Tax Liens Trust Deeds Quit Claim Deeds i , ' , 4 5 6 9 Bankruptcies Education continues as the number one item of expenditure. The Foundation analysis shows that state expenditures for education amounted to $289.3 million, or 45.3 percent of all state spending, in the 1974 fiscal year. Included in this total is $100 million for higher education, $168.8 million for state aid to local school districts, and $21.6 million for all other education purposes. Total state highway expenditures (including state aid for local roads amounted to $113.1 million, or 17.7 percent of all state spending in the 1974 fiscal year. 3&4 Births one-tim- sales tax collections transfererd to the income tax to pay for a $6 per person tax credit) amounted to $174.5 million in the 1973-7- 4 fiscal year. Total property taxes charged in Utah during 1973 and collected in the 1973-7- 4 fiscal period, on the other hand, were 2 Legals City Business Licenses percent last year. This unusually small revenue increase in fiscal 1974 is accounted for by the fact e "windthat (1) several recorded falls" were in the fiscal 1973 revenue totals, (2) very little gain was reported in the state individual income tax collections during 1974 because of the 1973 tax law changes, (3) total Federal to Utah were reduced grants-in-ai- d slightly last year, and (4) the state property tax levy was reduced. in equal to $170.6 million. Utah's individual income tax, the third leading tax producer, accounted for $90.0 million in fiscal 1974, Foundation analysts emphasized, In This Issue: responsibility for the major adult assistance programs, such as old-ag- e assistance, aid to the blind, and aid to the disabled. Other major areas of state spending in Utah outlined in the Utah Foundation report include employment security and benefits $34.5 million (5.4 percent), health and hospitals $25.4 million (4.0 percent), and natural sources $21.9 million (3.4 re- |