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Wednesday, 19 December 2007 |
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Keep up the
good work, Utahns |
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Daily Herald
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A quick scan of Utah unemployment rate data for the last 30 years shows that our current unemployment rate of 2.5 percent is comparatively very low and something we should be proud of (as there are consistently higher numbers of Utahns involved in the labor market, by percentage of population, than most anywhere else in the rest of the country: working more jobs, with longer hours). However, despite the very low unemployment rate, Utah also has a problem with low wages, which this translates into a greater number of working poor.
Wages are generally low in the state, due to many factors, such as cost of living and various labor market characteristics, and though I do not expect Utah employers to increase wages out of the goodness of their hearts, there is hope. With such a low level of unemployment, there is a corresponding small available unemployed labor pool searching for work. And anyone who has taken basic economics will know this means firms are increasingly competing for a shrinking number of available workers, and with a shortage in the supply of workers, wages will likely go up.
• Jonathan Westover,
Lehi |
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