For the first time since February, Utah's consumer sentiment fell significantly in August.
, consumer sentiment in the Beehive State fell 7.5% in August, going from 77.3 in July to 71.5.
Consumer sentiment is a statistical measurement of the overall health of the economy as determined by consumer opinion, taking into account people's feelings toward their current financial health, the health of the economy in the short term, and the prospects for longer-term economic growth, according tosurvey conducted by the University of Michigan
July's seasonally adjusted unemployment rate for Utah was 2.4%, with approximately 43,800 Utahns unemployed. The rate is lower than the national unemployment rate of 3.5%, according to the Utah Department of Workforce Services July"The post-COVID economic resilience remains the dominant picture of the Utah economy," said Department of Workforce Services' chief economist Mark Knold in the summary.
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