2. -5.1%
-0.6%
2.3%
3.3%
4.0%
-6.0%
-4.0%
-2.0%
0.0%
2.0%
4.0%
6.0%
2009 2010 2011 2012 2013 (f)
Utah Job Growth Rate
Source: Utah Department of Workforce Services, Governor’s Office of Management and Budget and Salt Lake Chamber
Year-over percent change

3. (63,837)
(7,217)
27,030
39,031
48,700
(80,000)
(60,000)
(40,000)
(20,000)
-
20,000
40,000
60,000
2009 2010 2011 2012 2013 (f)
Utah Job Creation
Source: Utah Department of Workforce Services, Governor’s Office of Management and Budget and Salt Lake Chamber

4. 36,766
51,100
105,645 109,041
90,062
76,998
67,900
-
20,000
40,000
60,000
80,000
100,000
120,000
2007 2008 2009 2010 2011 2012 2013(f)
Utah Number of Unemployed
Source: Utah Department of Workforce Services, Governor’s Office of Management and Budget and Salt Lake Chamber

5. 7.6%
8.0%
6.7%
5.7%
4.9%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
2009 2010 2011 2012 2013 (f)
Utah Unemployment Rate
Source: Utah Department of Workforce Services, Governor’s Office of Management and Budget and Salt Lake Chamber

6. 19,600
4,500
2,300
5,000
10,400
-
5,000
10,000
15,000
20,000
25,000
2009 2010 2011 2012 2013(f)
Utah Net Migration
Source: Utah Governor’s Office of Management and Budget

7. -4.5%
3.0%
4.6% 5.0%
4.2%
-6.0%
-4.0%
-2.0%
0.0%
2.0%
4.0%
6.0%
2009 2010 2011 2012 2013(f)
Utah Personal Income Growth Rate
Source: Utah Governor’s Office of Management and Budget
Year-over percent change

8. $10.3
$13.8
$19.0 $19.1
$21.0
-
5
10
15
20
25
2009 2010 2011 2012 2013(f)
Utah Exports
Source: World Trade Center Utah
(in billions)

9. 10.5 9.3
8.8
12.7
16.0
-
5
10
15
20
2009 2010 2011 2012 2013(f)
Utah Dwelling Unit Permits
Source: Utah Governor’s Office of Management and Budget, Revenue Assumptions Working Group
(in thousands)

10. -8.8% -7.3%
6.7% 6.9%
4.0%
-10.0%
-5.0%
0.0%
5.0%
10.0%
2009 2010 2011 2012 2013(f)
Utah Retail Sales Growth Rate
Source: Utah State Tax Commission and Utah Governor’s Office of Management and Budget
Year-over percent change

11. Top Five Job Growth States
Source: Bureau of Labor Statistics
March 2012 – March 2013
0.0% 1.0% 2.0% 3.0% 4.0% 5.0%
Idaho
Colorado
Texas
Utah
North Dakota
2.4%
2.6%
3.1%
4.2%
4.4%
Year-Over Percent Change
U.S. average = 1.5%

12. Utah Job Growth by Industry
March 2013
-2.0 0.0 2.0 4.0 6.0 8.0 10.0
Government
Other Services
Leisure and Hospitality
Education and Health
Prof. and Business
Financial Activities
Information
Trade, Trans, Utilities
Manufacturing
Construction
Natural Resources
Total
-0.1
3.8
7.9
2.9
4.8
5.6
7.2
4.6
3.2
8.6
-0.8
4.0
Year-Over Percent Change
Source: U.S. Bureau of Labor Statistics

13. Focus Areas
• Immigration
• Rio Tinto

14. Foreign Labor Force
Hourly
Workers
High-Skilled
Workers
Skill level
Numberofworkers
Conceptual Example

15. Native Labor Force
Hourly
Workers
High-Skilled
Workers
Skill level
Numberofworkers
Conceptual Example

16. America’s foreign labor force does not
impede economic growth, it propels it.
• Immigrants and natives are not perfect substitutes. They are
complements
• Efficient labor markets are important because productivity is a
key determinant of living standards.
• When the immigrant labor force grows, domestic jobs
increase.

17. Kennecott Landslide
Photo credit: Deseret News

18. Rio Tinto/Kennecott Economic Impact: 2011
• Total in-state spending = $1.2 billion
– $270 million in wages, salaries, benefits and pensions
– $765 million in purchases with Utah firms
– $140 million in payments to state and local government (including taxes)
• Direct employment = 2,810
• Indirect and induced employment = 14,971 people
• Total jobs = 17,781 jobs
Source: Bureau of Economic and Business Research, University of Utah