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Show wwe owes TE OGDEN VALLEY NEWS Page 9 February 1, 2007 Likely Delay in Federal Reserve Ease Will Impact Utah’s Businesses Highlights Weber County experienced job growth of 3,600 jobs (3.9%) from a year ago. Joblessness registered 2.8%, down = the 4.8% unemployment rate one year a: ¢ The Zions Bank Small Business Toes for Utah was 111.3 in December 2006, up from a revised 109.9 in November 2006. ® Utah’s unemployment rate was estimated at 2.6% in the latest month, up from the prior month’s all-time low 2.5% rate. Total Utah employment is up an estimated 57,700 jobs during the past 12 months. * Solid U.S. employment gains of recent months are likely to delay any move by the Federal a to reduce its key short-term interestr ¢ The U.S. economy added 167,000 net new jobs in December, above expectations, while September and November gains were revised higher by 29,000 jobs. The U.S. unemployment rate remained at 4.5%. A Longer Pause? Solid U.S. employment gains of recent months are likely to extend the duration of the Federal Reserve’s current “pause” in its conduct of monetary policy. The Federal Reserve had tightened its key short-term interest rate, the federal funds rate, 17 consecutive times in 0.25% increments between June 2004 and June 2006. The federal funds rate, currently at 5.25%, was at a 46-year low of 1.00% between June 2003 and June 2004. The Federal Reserve moved to the monetary sidelines in late June 2006, noting that monetary tightening to that point seemed sufficient to address inflation pressures in the economy. Federal Reserve officials also noted at that time that more signs of U economic slowing warranted such cessation in additional tightening. Given the strength of recent economic data, including solid employment gains, the Federal Reserve is likely to leave monetary policy nachenged in coming months. minorityof economists expect additional monetary chance moves. We currently expect the Federal Reserve to remain on hold until its meeting in late June or early August, with an easing move then followed by one or two subsequent easing moves. Financing costs are a minor saapene of the Utah Small Business Index Utah Employment The Gish unemployment rate-the most heavily weighted component of the Zions Bank Small Business Index for Utah-was estimated at 2.6% in the latest month, up slightly from the prior month’s 2.5% rate. The 2.5% rate, the lowest ever recorded in the state and the lowest in the continental U.S., compares to a jobless rate of 4.0% during the same month one year ago. A higher Utah unemployment rate is a positive contributor to the Index as it implies increased access to Utah labor. Utah’s unemployment rate averaged 4.3% in 2005, 5.1% in 2004, 5.7% in 2003 and in 2002, and 4.4% in 2001. By comparison, the 3.4% average during 2000 was one o lowest annual rates since the early 1950s. These rates compare to an average Utah unemployment rate of 3.5% between 1995 and 1999. Total Utah employment rose by an estimated 57,700 jobs (up 4.9%) over the past 12 months, one of the strongest annualizedgains in more than 10 years, and the strongest job growth rate in the nation. This rise compares to a revised gain of 54,100 jobs in the prior year-over-year period. Utah added 45,200 jobs in 2005 and 30,200 jobs in 2004. These totals compare to gains averaging 38,000 new jobs annually Wey the 1994-2000 period and a net loss of 1,300 jobs in 2001 through 2003. Stronger ob gains, leading to better income creation and stronger retail spending, have a positive impact upon Utah’s small businesses...and therefore, the Index. The Zions Bank Small Business Index for Utah was 111.3 during December 2006, up from a revised 109.9 during November 2006. The Index measures business conditions from the viewpoint of the Utah small business owner or manager. A higher Index number is associated with more favorable business “conditions” for Utah’s small businesses. The Index uses 100.0 for calendar year 1997 as its base year. The Index includes revisions to various historical or forecast components as they become available. Cache County employment grew by 1,000 jobs (2.1%) in the latest 12-month period. The area’s jobless rate was 1.9%, down from the3.3% rate of one year ago. Salt Lake County employment rose by 26,500 jobs (4.7%) over the year. The county’s unemployment rate fell to 2.4% in the latest month, down from 4.1% last year. Utah County employment grew by 8,200 jobs (4.7%) over the last 12 months. The area’s jobless rate was 2.1%, down from the 3.6% rate of one year ago. Washington County payrolls expanded by 4,200 jobs (8.6%) in the past year. The unemployment rate was 2.0% in the latest month, down from3.2% one year ago. National Employment The U.S. Department of Labor reported a net gain of 167,000 jobs in December 2006, above the expected 100,000 rise. Combined October and November employment gains were revised higher by 29,000 jobs. The U.S. economy added an average of 153,000 net new jobs monthly in 2006. The 1.84 million rise in net new jobs in 2006 trailed gains averaging2.0 million jobs annually in 2004 and 2005. Local Performance Weber County experienced job ame of 3,600 jobs (3.9%) from a Joblessness registered 2.8%, down from the 4.8% unemployment rate one year ago. Davis County payrolls expanded by 4,100 jobs (4.2%) in the past year. The unemployment rate was 2.3% in the latest month, down from 4.0% one year ago. October’s 4.4% jobless rate was the lowest in more than five years. The average hourly wage rose 0.5% (eight cents) to $17.04 hourly, a rise of 4.2% over the past 12 months... versus the 2.0% rise in consumer prices over the same 12-month period. Goods producing employment was under pressure in December, with a net loss of FEDERAL RESERVE Nichole Kester Paul L. Judd LXer ity em edna (801) 710-3074 you'll ever need to know. cont on page 11 The only name in Valley Real Estate 814-5667 Cell MLS #617947 4 BR, 3 BA, over 3000 finished sq. ft.w/ full unfinished basement. Mountain style finishes. Historic Ranch located beside State Hwy 39 # 230 South 7700 East Pella UIs MLS #653237 $1,650,000 Across from Chevron Commercial Center. Includes primary Movin ico) 10 mola mC EM C=r= No ol ele Being sold “as is” through a family trust. Please call Paul Judd at 801-814-5667 or visit this listing on line at Pauljudd.net Lot MLS This for a view 35 #617894 lot has a gradual slope to the west. Perfect walkoutbasement and high enough your won't be blocked by thesurrounding lots. $265,000 Lot 76 MLS #613612 Seller is motivated. Best lot for the price. Easy build lot with great views of Wolf Mountain and the Divide. Hookups already paid and included. $220,000. Added Value Package worth over $8000 applies w/ purchase of Lot 76. 5354 East 3850 North Eden MLS #651600 $709,000 Gorgeous home overlooks Wolf Creek Golf Course & Pineview Reservoir. Features terraced lawns, 7 custom rock walls. Inside has Library, Den, Huge Kitchen & Formal Dining Room. Central vacuum through out. Wired for Internet. Priced to sell. Call Paul L Judd at 801-814-5667 or visit this listing on line at pauljudd.net Modern Mountain Chalet MLS #646628 Over 3850 sq. ft. 4 BR, 4 BA Mountain style home. Granite and stainless kitchen. 2nd kitchen in basement. Too many extras to list. $575,000 * 444 S. 8750 Hees CW ae Aa Priced at only $200,000. MLS #622610 BEST BUY IN OGDEN VALLEY ne eea: x le pie lot in berty. 4 Bi Mature trees, ice Fork a ; ee Great permanent residence or investment property. Priced to sell at only $325,000 Visit www.nicholeshomes.com MLS#610334 Priced to om negaoe are Mae ‘ ‘3 MLS #588584 SOLD Motivated: ESC oe tures jetted ee Hh in closet, gas log fireplace. Kitchen has hardwood floors, recessed lighting & 2 way FP. Basement kichenette, Large 1.84 acres lot w/ irrgation shares. Lg. covered deck and patio. Please call 814-5667 or visit me at pauljudd.net. online wrong with this 6 BR, minutes from Powder Mtn Seller 4736 East 2650 North Eden MLS #628830 $349,000. Wow! What an awesome home! Spacious family room w/huge walk out 50 x 12 covered patio.Master bedroom has jetted tub & double sink w/walkin closet. Has 3 car detached heated gar.. Virtural tour at pauljudd.net. Call Paul or Nancy at 801-745-600 $699,000 : : Bi: Rare Patio Springs building lot. Not many lots left in this beautiful established development. This 1/3 acre lot has some of the best views this Valley has to offer. You be the judge. C3 4 | MLS #644488 Exclusive Trappers Ridge home now available. BR/5 BA. Beautiful views of the Valley and Mountains. Why wait to build, enjoy yours today. Scheduled for completion January 2007. ; ; c eos: : 441 S 7600 E Huntsville MLS#639778 3 ~* $429,900 Huntsville Charmer. Built in 1925 but renovated with PARR eM Maco ar Na Om acne ' Back Covered Decks. Custom built in seating. Breakfast Nook. Large private back yard. Excellent ' location. Located in town minutes to shopping, MS Tie MES oromeel MeN Me RUE sre masa oS) CONN m= a-0 o CO |