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Show First Security Bank Reports On Economy Business patterns in the inter-mountain inter-mountain region are described as on a high plateau. Certain segments of the economy are down slightly and balance those showing an upward trend. That report is contained in First Security Bank's Newsletter being distributed this week, it is announced by B. W. Vincent, vice president and manager, First Security Bank in Sugar House. Personal income in Utah during 1960's first quarter was up approximately 5 per cent over that of a year ago, and total non-agricultural non-agricultural employment in the state in March was up 9,600 over a year ago. Unemployment was also higher, indicating increase in the labor force was slightly above the increase in new jobs. The Newsletter notes that major increases in the state's personal income occurred principally prin-cipally in March. "January had been affected adversely by the prolonged 7 -month strike in copper which was settled only in the latter part of the month," First Security says. "Cold weather had been a deterrent to construction, farming, and mining." First Security observes that while Utah's missiles industry has been slowed down by the curtail-. ment of the Bomarc schedules, "employment is expected to continue con-tinue at approximately 9,000 with a $45 million annual payroll." "Outlook for cash income from farming is approximately the same as for 1959," First Security reports. "Crop outlook is improved, except for some drought areas, and for some fruit." |
