Data source: U.S. Census Bureau, American Community Survey, 5-year sample. Note: The Utah Foundation used the 5-year sample for comparison due to the margins of error for Utahns. When looking at the 1-year sample for the U.S., the decrease in enrollment over the period is much more pronounced: 42.3% to 40.9% – with a 2.0% drop for men compared to a 0.7% drop for women.
Growth and prosperity are likely to be serious issues facing Utahns over the coming decade. We can see this in the drivers of recent rent increases along the Wasatch Front. Further, there is a good chance that current financial market conditions will sharply push up rents again in the future. Rents on the Increase Rapid rent increases are neither entirely recent nor purely COVID-related – as illustrated by the rent increases seen between 2010 and … Continued
In our upcoming Revenue Report we will examine recent projections for Utah and how they compare to eventual outcomes.  Utah Constitution, Article XIII, Section 5, Use and amount of taxes and expenditures.  Utah Governor’s Office of Planning and Budget, Utah’s Budget Process, https://gopb.utah.gov/budget-operations/utahs-budget-process/  Utah Governor’s Office, News Release: Legislature and Governor’s Office Release Updated Budget Estimates, February. 21, 2023, https://governor.utah.gov/2023/02/21/news-release-legislature-and-governors-office-release-updated-budget-estimates/. And Executive Appropriations Committee, Revenue Estimates – February 2023 … Continued
Utah Foundation staff discuss the findings of our Misery Index, released in December as part of the 2022 Quality of Life Series. We also hear from Representative — and economist — Robert Spendlove and Dr. Steve Hanke, the creator of the index we used. Just what is making Utahns miserable and how miserable are they? Listen to find out.
The State will be re-forecasting revenues after one more monthly collections report – due in the middle of February. Legislators will consider these numbers before making final budget decisions for the 2023 General Session. Interestingly, if the current growth rates were to hold throughout the remainder of the fiscal year (June 30th), the state would end the year with $1.9 billion more than forecasted. In this edition we highlighted how actual revenues can sometimes far … Continued