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Utah Economic Update May 2013 Natalie Gochnour, Associate Dean

Utah Economic Update May 2013 Natalie Gochnour, Associate Dean. Presentation Outline. Glum and angry Positive and happy Reflective.

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Utah Economic Update May 2013 Natalie Gochnour, Associate Dean

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  1. Utah Economic Update May 2013 Natalie Gochnour, Associate Dean

  2. Presentation Outline • Glum and angry • Positive and happy • Reflective

  3. “You can feel the economy wants to launch, but Washington is sitting on the national mood button. We the people still feel like children of permanently divorcing parents.” The Great Divorce - Tom Friedman

  4. Job Losses in Recent Recessions Source: CalculatedRiskBlog.com and the Bureau of Labor Statistics

  5. MedicareAverage couple retiring in 2010 Medicare taxes paid $122K Medicare benefits received $387K Source: Urban Institute

  6. Yes We Can …? “The greatest nation on earth – the greatest nation on earth – cannot keep conducting its business by drifting from one manufactured crisis to the next. We can’t do it.” • President Barack Obama

  7. Fiscal Crises Naming Conventions • Debt ceiling stand off (August 2011) ANDREA • Super Committee deadline (December 2011) BARRY • Fiscal cliff negotiations (Fall 2012) CHANTEL • Fiscal cliff (January 2013) DORIAN • Start of sequestration (March 2013) ERIN • Debt ceiling revisited (May 2013) FERNAD • Next crisis GABRIELLE

  8. Job Growth: Utah and U.S.

  9. Top Five Job Growth States March 2012 – March 2013 U.S. average = 1.5% Source: Bureau of Labor Statistics

  10. Utah Job Growth by IndustryApril 2013 Source: U.S. Bureau of Labor Statistics

  11. Utah Fiscal Checklist

  12. U.S. Fiscal Checklist

  13. Utah’s Unique Demographic Profile In the country… Third fastest growing Highest fertility rate Lowest median age Largest household size Long life expectancy Rapidly diversifying

  14. Total Fertility Rate U.S. and Ten Highest States: 2010 Source: National Vital Statistics Reports, Vol. 61, No. 1

  15. Median Age U.S. and Lowest Ten States: 2010 Source: U.S. Census Bureau, 2010 Census Summary File 1

  16. Household Size U.S. and Highest Ten States: 2010 Source: U.S. Census Bureau, 2010 Census

  17. Life Expectancy Top Ten States Source: American Human Development Projects, Measure of America 2010-2011

  18. Minority Population Growth By State2000-2010 Source: U.S. Census Bureau

  19. 2000 – 2010 Growth in Utah’s Population by Race and Ethnicity Source: U.S. Census Bureau; 2010 Census.

  20. “We can have a hard decade or a bad century.” - Tom Friedman

  21. Source: the dip, Seth Godin

  22. Source: the dip, Seth Godin

  23. “Utah is a great example of what enlightened and motivated political leadership can accomplish with a solid plan,” said Brent Pollina of Pollina Corporate Real Estate. He went on to call Utah, the “brightest star” on the American flag and the ultimate model for the rest of the country.” Utah the Brightest Star • MarketWatch, Wall Street Journal

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