Source: CVDaily Feed
Every year in the United States, it’s estimated that at least a third of all renters relocate. This year, it’s possible many of those renters may be moving to Utah.
Recently released data from the U.S. Census Bureau revealed the Beehive State’s population growth is one of the highest in the entire nation. The state’s population increased by nearly 1.4% — or more than 40,000 people — in just one year from July 2013 to July 2014.
According to Pamela Perlich, a research economist for the University of Utah’s Bureau of Economics and Business Research, many of Utah’s newest residents aren’t from out of state or even out of the country. In fact, Perlich partially attributes Utah’s steady population growth with a rise in births.
Though Utah’s birth rate declined after the Great Recession, recent statistics from the U.S. Centers for Disease Control and Prevention show a strong comeback. In fact, Utah takes the cake for having the highest birth rate in the entire nation.
Of course, states that are the most populous — such as California, New York, and Texas — naturally have the most births in raw numbers. However, when adjusted by population, the rate of births is significantly higher in Utah, with 17.6 births per 1,000 people. The average national rate is substantially less at 12.5.
While Utahns are having more babies per capita, another major factor in Utah’s population boom is the state’s rapid job growth, which has drawn a number of out of state job seekers. For the fourth consecutive month in May, Utah was measured as having the fastest job growth in the nation. According to state jobs report released last week Friday, an estimated 58,000 new jobs were added to the state economy, totaling a 3.8% increase over the same month in 2014.
Nine out of 10 private industry sector groups experienced net increases in jobs over the last year, with the largest numbers seen in Trade, Transportation, Utilities (10,600 new jobs), Professional and Business Services (10,000) and Education and Health Services (9,300).
“Utah’s economic model is working,” noted Gov. Gary Herbert in a written statement. “Our economy continues to grow in strength and diversity, and businesses recognize Utah is the place they want to invest and expand. That’s good news for all Utahns.”