SALT LAKE CITY -- Utah's job-growth rate ranks among the top five states in the nation.

Utah added about 49,300 jobs in the year that ended Feb. 28, a 4.4 percent growth rate, according to the Utah Department of Workforce Services. That's down from a 4.5 percent growth rate in January, but economists said the change is not cause for concern.

"There's been slight moderation, but that's just minor movement at a very high level. It's like a high-flying airplane coming down a little bit. You're still flying pretty high," said Mark Knold, senior economist with the department.

Nationally, new jobs grew about 1.6 percent during the year, according to the U.S. Department of Labor.

Nevada's job growth rate for the period was about 6 percent, leading the nation. Arizona and Idaho were tied for second at about 5 percent, followed by Utah. Florida rounded out the top five at 3.9 percent, Knold said. New jobs helped push the state's unemployment rate for February to 3.8 percent, down from January's 3.9 percent.

The professional and business services sector added the most jobs, at 11,300, the department reported. Construction followed with 9,500 jobs. The trade, transportation and utilities sector was third, at 7,900 new jobs.

"The current employment growth in the mid-4 percent range is the best period of employment growth Utah has experienced since the early part of 1997," Knold wrote in the department's report.

On Friday, high-tech giants Micron Technology Inc. and Intel Corp. announced one of the largest job expansions ever for the state. The IM Flash Technologies joint venture could add 1,850 jobs in Lehi over the next 18 months to two years.

High-tech companies of all sizes are adding good-paying jobs right now, creating a labor market as tight as the one in the mid- to late-1990s.

when shortages began to plague some technology employers, said Richard Nelson, chief executive of the Utah Information Technology Association.

"It's a nice problem to have," Nelson said.

Nelson said it hasn't reached a point where employers are doing whatever it takes to lure workers away from competitors. But employers increasingly must recruit workers from outside the state to fill available positions, he said.

As employment has grown in Utah, related industries, such as real estate and retail, have benefited, Knold said.

The U.S. Labor Department reported that the nation's seasonally-adjusted unemployment rate was 4.8 percent in February.

This story appeared in The Daily Herald on page B7.