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  "documentTitle": "2022 strategic update presentation",
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      "text": "Footnotes 50-57 listing URLs for data sources.",
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      "text": "Unemployment Rate: 2.1%",
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      "text": "Salt Lake City's major industries include government, trade, transportation, utilities and professional and business services. Large corporations with a presence in Utah include Walmart and Delta Airlines. Tight labor markets constrained Utah's growth in recent years as job openings remained unfilled and businesses struggled to meet high consumer demand, but",
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      "text": "Barriers to homeownership exacerbate wealth inequality and threaten economic growth. About 30% of Utah households are renters which generally include Utahns who are younger, have lower incomes, and are more ethnically and racially diverse than current homeowners. During the pandemic, Utah homeowner wealth increased by approximately $50 billion due to home appreciation and disposable income growth as mortgage rates fell and homes were refinanced. In contrast, rents accelerated faster than wages. The 2023 Economic Report to the Governor cites housing affordability as a risk to long-term economic performance in the state.",
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      "text": "Lack of housing supply creates affordability challenges, contributing to extreme cost burdens and homelessness. Approximately 3 in 10 low-income people in Utah are homeless or pay over half of their income in rent. Over 75% of very low-income renters are spending more than 30% of their income on housing costs, compared to 15% of middle-income renters. Salt Lake City homeowners are increasingly cost-burdened as average home sale prices have outpaced wage growth over the last 5 years. Severely cost burdened lower income households are more likely to sacrifice healthy food and health care to pay rent or to experience unstable housing situations like eviction.",
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      "text": "The unemployment rate for the Salt Lake City MSA was 2.1%, compared to the year-end 2022 national average of 3.5%. Between June 2019 and June 2021, Utah's job growth rate was among the highest in the country adding cumulative 51,300 jobs in professional and business services (+17,900 jobs), trade, transportation and utilities (+16,400 jobs), construction (+13,000 jobs) and manufacturing (+8,200 jobs).",
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      "text": "Source: U.S. Bureau of Labor Statistics",
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