The Kem C. Gardner Policy Institute at the University of Utah released a report Monday outlining how Utah’s economy and population have developed in recent years.
The report, titled “The New Utah,” focuses on six significant transitions. It said Utah has moved from a small to a medium state, has become 20% older and is significantly more multicultural than in the past.
The report also said Utah’s population growth is increasing due to migration as Utah’s fertility rate has been below a replacement level since 2018. It said Utah’s in-migration reached a modern record high in 2022 and, over the past two years, in-migration contributed nearly two-thirds of Utah’s population growth. While Utah’s total fertility rate remains higher than the national average, at 1.92, it is not high enough to replace Utah’s population.
The report also noted Utah’s economy is consistently the best in the nation for job growth and had some of the top outcomes following the COVID-19 pandemic. But, it said, the state’s unaffordable housing costs are a major risk to the growing economy.
While many of these changes have been accelerated due to the pandemic, the report said the trends existed before the pandemic began.
The report also suggested Utahns should keep an open mind about how the state is growing, listen to each other’s unique perspectives, fortify our institutions like families, schools, churches and government, and invest even more in the future of our state. By addressing these changes early, it said, Utah will have an advantage in the future.
