Economists Rely on Alternative Data as Government Shutdown Continues
Utah economists are using alternative data to understand the current economic landscape due to the unavailability of a national jobs report caused by the government shutdown.
According to Phil Dean, Chief Economist at the Kem C. Gardner Policy Institute, the healthcare and construction industries are expected to experience job growth in Utah. This growth is attributed to the aging population and building expansion across the state.
- Construction jobs were growing at rates of about 4-6% year after year.
- This growth slowed in August.
Despite this, Utah's economic growth remains stronger than the national average.
Moody’s Analytics chief economist Dr. [Name] was also consulted on the matter, providing further insight into the economic situation.
Author's summary: Economists use alternative data amid government shutdown.