February 17, 2024

Lehi, UT – January 2024 Jobs Report – Tech Hub Maintains Momentum

Lehi’s job market continued its impressive streak in January 2024, adding another 1,200 jobs and pushing the unemployment rate down to a near-historic low of 2.1%, according to the Career Connect @ Get.It report. This marks the 18th consecutive month of job growth for the city, solidifying its position as one of the nation’s hottest job markets, particularly for tech talent.

Highlights:

Overall job growth: 1.2% growth month-over-month, 13.5% growth year-over-year.
Unemployment rate: 2.1%, down from 2.3% in December 2023.
Key industries: Technology, healthcare, professional & business services.

What Industries and Occupations Grew:

Technology: Software development, computer systems design, information security.
Healthcare: Registered nurses, physician assistants, medical and health services managers.
Professional & Business Services: Marketing specialists, accountants and auditors, management analysts.

What Industries and Occupations Shrank:

Leisure & Hospitality: Food service workers, cooks, cashiers.
Retail Trade: Salespersons, retail supervisors, stockpersons.

Compare to Same Month Last Year:

Job growth in January 2024 was slightly lower than January 2023 (1.5%).
The unemployment rate in January 2024 was significantly lower than January 2023 (3.2%).

Compare to Previous Month:

Job growth in January 2024 was slightly higher than December 2023 (1.0%).
The unemployment rate in January 2024 remained the same as December 2023.

Future Outlook:

The job market in Lehi is expected to remain strong in 2024, with continued growth in the technology, healthcare, and professional & business services sectors. However, rising interest rates and inflation could pose challenges in the latter half of the year.

10 Growing Occupations:

10 Companies Hiring Now:

Resources: