Utah’s Economy Shows Resilience Amid Consumer Confidence Concerns

SALT LAKE CITY, UTAH (Nov. 13, 2026) – The Utah Chamber, in partnership with the University of Utah’s Kem C. Gardner Policy Institute, has released the October 2026 Roadmap to Prosperity Economic Dashboard to inform business leaders’ understanding of Utah’s economy. This tool prioritizes key data on the state’s economic outlook and actionable context for decision-makers.

“Utahns have a long track record of adapting to changing conditions. Even as higher prices weigh on households and businesses alike, our expanding labor market reflects the steady strength of Utah’s economy,” said Derek Miller, president and CEO of the Utah Chamber. “Declining consumer sentiment is one of several indicators we’re watching closely and will continue tracking so Utah’s business community has the clear, timely insight it needs to plan for a strong 2027.” 

Three essential insights from the October 2026 Roadmap to Prosperity Dashboard include:

1. Utah’s year-over job count grew 1.4%, led by the construction and education & health services industries. Utah’s employment growth ranked as the fourth fastest among states. Even with a stronger labor market, two Utah industries (information and government) shed jobs year-over. The information sector (largely tech-related) lost roughly 1,700 jobs relative to one year ago. 
2. The labor force participation rate in Utah increased in September for the first time since April 2023. After reaching a 14-year low in August, Utah’s labor force participation rate ticked up slightly to 66.5% in September. The national rate similarly reversed course in August of this year following sustained declines but remains below Utah’s rate at 61.8%. 
3. Utah consumer sentiment fell to its lowest level since November 2022. Impacted by higher prices and general economic uncertainty, both Utah and U.S. consumers reported lower sentiment in October than in the prior month. Relative to one year earlier, Utah’s sentiment dropped 6.5% while U.S. sentiment fell 10.4%. 

The Dashboard is updated monthly, providing essential insights, tracking timely and leading measures, and sharing pertinent indicators. This provides leaders with critical and timely information to make informed decisions.  

“Utah continues to demonstrate economic resilience, with job growth outpacing much of the nation and strength in key industries like construction and health care,” said Natalie Gochnour, director of the Kem C. Gardner Policy Institute and associate dean at the David Eccles School of Business. “A modest rebound in labor force participation is encouraging, but declining consumer confidence reflects the continued pressure of higher prices and economic uncertainty on Utah households. These mixed signals reinforce the importance of building on Utah’s economic strengths while remaining attentive to the challenges facing families and businesses.”

To view the dashboard, click here.

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About the Utah Chamber

The Utah Chamber is a statewide chamber of commerce, representing the diverse voices of the state’s 80,000-plus employers and their employees. The Chamber unites the voices of Utah businesses, local chambers and industry associations to build a stronger business environment, increase healthy job creation and support prosperous communities across the state.

About the Kem C. Gardner Policy Institute

The Kem C. Gardner Policy Institute serves Utah by preparing economic, demographic, and public policy research that helps the state prosper. We are Utah’s demographic experts, leaders in the Utah economy, and specialists in public policy and survey research. We are an honest broker of INFORMED RESEARCH, which guides INFORMED DISCUSSIONS and leads to INFORMED DECISIONS™. For more information, please visit gardner.utah.edu or call 801-587-3717.