The United States economy is in a good place right now. The national unemployment rate has fallen to 3.8 percent and jobs are being added at a rate of 1.2 percent. Yet areas within the TDS cable markets are outperforming the national averages.
Currently, Utah, where TDS cable has a presence, is leading the nation in job growth rate. In July, the state added 57,100 new positions, the same statistic the state saw a year prior. This number of added jobs amounts to a growth rate of 3.9 percent – more than double the national average.
While Utah experienced an increase in unemployment, its 3.1 percent is still under the national average. Utah added about 54,700 jobs over the last year, the fastest growth rate of any state in the country.
Throughout the state, however, some cities and counties shine even brighter than others. The St. George metropolitan area in Washington County, a TDS cable market, has added 3,400 jobs within the past year. This addition exceeds the state growth rate at 5.4 percent. Industries such as natural resources, mining and construction are said to have contributed the most to this expansion.
Next door to Utah, Nevada has also seen significant economic growth with the second fastest growth of 3.7 percent. TDS serves two cities in Nevada: Mesquite and Bunkerville.
In Colorado, the unemployment rate is lower than the national average too, and lower than Utah. It decreased from 2.8 percent in May to 2.7 percent in June – a trend that seemingly continues to fall. The lowest unemployment city is Fort Collins, a city within TDS’ cable market, with a rate of 2.6 percent.
24/7 Wall Street reviewed economic growth, poverty, unemployment, job growth, and college attainment rates to compare and rank state economies. Here are the rankings of the top 10 states, the top two are TDS cable markets:
- Colorado – 5-year GDP annual growth rate is +2.7% (4th largest increase) — Nationwide, many of the jobs in the fastest growing industries require a postsecondary education. In Colorado, nearly 40% pf the adult population has a bachelor’s degree.
- Utah – 5-year GDP annual growth rate is +2.8% (3rd largest increase) – Utah’s information sector was the largest contributor to growth. The Salt Lake City, Provo, and Park City region of the state is known as the Silicon Slopes.
- New Hampshire
By Morgan Grunow