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  "documentTitle": "2022 strategic update presentation",
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  "notes": "This slide serves as a reference document for the Utah Assessment Area, likely part of a CRA (Community Reinvestment Act) performance evaluation or similar regulatory filing.",
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      "text": "Real GDP: $192 billion",
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      "text": "GS Bank's Utah AA consists of Salt Lake City, UT MSA 41620, encompassing Salt Lake and Tooele Counties, and Summit County, a portion of the Heber, UT Micropolitan Statistical Area 25720.",
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      "text": "Utah faces significant economic challenges in the post-pandemic economy including high inflation, increasing interest rates, low consumer sentiment and housing market slowdown. These trends may contribute to economic deceleration for Utah.",
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      "text": "According to the 2020 United States Census, the population of the Utah AA was 1.3 million. The AA consists of 282 census tracts, of which 2.1% were low income and 22.0% were moderate-income.42",
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      "text": "Although post-pandemic labor imbalances helped increase wages in recent years, those increases were outpaced by broader inflation eroding the purchasing power of low-wage workers. Some sectors, such as healthcare, homecare, childcare and social workers, have experienced significantly lower real wages.",
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      "text": "As the capital of Utah, Salt Lake City is a hub for service jobs in both the public and private sectors, serving as a central market for industries including financial services, manufacturing and distribution, aerospace and defense, information technology, life sciences and outdoor products and recreation.40 Government employment is considerable, with the State of Utah, University of Utah, and Salt Lake County among the city's top employers. In addition, several national financial institutions have offices in Salt Lake City, making it the center of banking and finance for the region. In 2022, Utah's real GDP reached $192 billion.41",
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      "text": "in 2023.37 Driven by widespread job growth moderation, US wages are expected to grow at a slower 4% rate in 2023.38 In New York City specifically, wage growth is expected to slow to 2.5% in 2023 and 2024 before picking up again in 2025 and 2026.39",
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      "text": "37-42 References and URLs",
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