Thursday, February 5, 2009

Logan Unemployment #2 Nationally

More people have jobs in Logan Utah than just about anywhere in the nation.

According to an article in today's Deseret News, unemployment in Logan is at 2.8% compared with 7.2 percent nationwide.

With the rest of the economy slowing down, Logan is actually seeing some growth, says Sandy Emile, president of the Cache Chamber of Commerce and director of economic development for Cache County. "We have two hospitals that are both in growth mode."

Even though Utah State University announced this week that it will put all its employees on a one-week furlough to save money, "its Innovation Campus is still putting out new jobs and hiring people," she says. And "there is more interest in the past month from residential developers considering starting up again."

Economic growth is down, from 4.5 percent to 2.3 percent, "but in this economy, you say, 'Thank you,' " Emile says. "I'm not saying we're out of the woods, but our juices are flowing again."

Still, she adds, "I don't think we've hit bottom yet." The Logan area has seen some layoffs, and "many businesses are in hiring-freeze mode, mainly just watching to see what the economy is doing. But manufacturing entities aren't closing. It's more like they're dropping down to re-situate themselves.

This is also is good news for the Logan Utah Real Estate market. Home values are more stable when the economy is moving and foreclosures are also much lower than state and national averages.

1 comment:

Marcus Tucker said...

That should help give them an opportunity to buy some of the many Utah Condos for Sale sold.