Utah's Employment Growth Shows Slight Dip

None by Eric Ray

(KCPW News) Utah's construction market is beginning to wane and is no longer the state's leading growth industry according to the October employment numbers from the Division of Workforce Services.

Chief Economist Mark Knold of the DWS says the tightening of credit due to the sub prime crisis is putting a damper on the housing market. However, Knold adds commercial construction is still going strong.

Knold says the construction industry has laid the foundation for new businesses, which are now adding jobs. The trade, transportation and utilities sector is now the state's leading growth industry, adding 11,300 jobs over the past year.

Overall, the state's unemployment rate has risen slightly from 2.6% to 2.8% over the last year.

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