Tyson Smith, Regional Economist
The Uintah Basin continued to add employment throughout the fourth quarter of 2014. Average annual employment in the region grew nearly 4 percent from 2013. Despite the sustained growth trend throughout last year, it appears that the economic conditions in the Uintah Basin are taking a turn for the worse.
The Utah Department of Workforce Services relies on several data sources to help describe the state of the economy. The most accurate data available is the nonfarm payroll employment information that is collected through the Quarterly Census of Employment and Wages. However, the resources required to gather data accurately come at the expense of timeliness, which results in a four to six month lag between the time these data are collected and when they are available to the public.
When economic trends change dramatically it is important to understand the recent history of the region, while also using up-to-date information to inform the current economic climate. The most recent data that highlight the shrinking labor market in the Uintah Basin are the unemployment rate and the initial weekly unemployment claims, both of which have jumped significantly to start 2015.
Showing posts with label Taxes. Show all posts
Showing posts with label Taxes. Show all posts
Monday, April 27, 2015
Uintah County Economic Update
Tyson Smith, Regional Economist
The Uintah Basin continued to add employment throughout the fourth quarter of 2014. Average annual employment in the region grew nearly 4 percent from 2013. Despite the sustained growth trend throughout last year, it appears that the economic conditions in the Uintah Basin are taking a turn for the worse.
The Utah Department of Workforce Services relies on several data sources to help describe the state of the economy. The most accurate data available is the nonfarm payroll employment information that is collected through the Quarterly Census of Employment and Wages. However, the resources required to gather data accurately come at the expense of timeliness, which results in a four to six month lag between the time these data are collected and when they are available to the public.
When economic trends change dramatically it is important to understand the recent history of the region, while also using up-to-date information to inform the current economic climate. The most recent data that highlight the shrinking labor market in the Uintah Basin are the unemployment rate and the initial weekly unemployment claims, both of which have jumped significantly to start 2015.
The Uintah Basin continued to add employment throughout the fourth quarter of 2014. Average annual employment in the region grew nearly 4 percent from 2013. Despite the sustained growth trend throughout last year, it appears that the economic conditions in the Uintah Basin are taking a turn for the worse.
The Utah Department of Workforce Services relies on several data sources to help describe the state of the economy. The most accurate data available is the nonfarm payroll employment information that is collected through the Quarterly Census of Employment and Wages. However, the resources required to gather data accurately come at the expense of timeliness, which results in a four to six month lag between the time these data are collected and when they are available to the public.
When economic trends change dramatically it is important to understand the recent history of the region, while also using up-to-date information to inform the current economic climate. The most recent data that highlight the shrinking labor market in the Uintah Basin are the unemployment rate and the initial weekly unemployment claims, both of which have jumped significantly to start 2015.
Daggett County Economic Update
Tyson Smith, Regional Economist
The Uintah Basin continued to add employment throughout the fourth quarter of 2014. Average annual employment in the region grew nearly 4 percent from 2013. Despite the sustained growth trend throughout last year, it appears that the economic conditions in the Uintah Basin are taking a turn for the worse.
The Utah Department of Workforce Services relies on several data sources to help describe the state of the economy. The most accurate data available is the nonfarm payroll employment information that is collected through the Quarterly Census of Employment and Wages. However, the resources required to gather data accurately come at the expense of timeliness, which results in a four to six month lag between the time these data are collected and when they are available to the public.
When economic trends change dramatically it is important to understand the recent history of the region, while also using up-to-date information to inform the current economic climate. The most recent data that highlight the shrinking labor market in the Uintah Basin are the unemployment rate and the initial weekly unemployment claims, both of which have jumped significantly to start 2015.
The Uintah Basin continued to add employment throughout the fourth quarter of 2014. Average annual employment in the region grew nearly 4 percent from 2013. Despite the sustained growth trend throughout last year, it appears that the economic conditions in the Uintah Basin are taking a turn for the worse.
The Utah Department of Workforce Services relies on several data sources to help describe the state of the economy. The most accurate data available is the nonfarm payroll employment information that is collected through the Quarterly Census of Employment and Wages. However, the resources required to gather data accurately come at the expense of timeliness, which results in a four to six month lag between the time these data are collected and when they are available to the public.
When economic trends change dramatically it is important to understand the recent history of the region, while also using up-to-date information to inform the current economic climate. The most recent data that highlight the shrinking labor market in the Uintah Basin are the unemployment rate and the initial weekly unemployment claims, both of which have jumped significantly to start 2015.
Thursday, December 6, 2012
Ballard Water Rates Climb
When Ballard city residents open their water bill in February, they will see just how much of an effect a recent rate increase will have on their wallet.
There will be a raise in both the property tax mill levy for the Water District as well as a fee increase for water usage.
The need to raise the cost of water to consumers had been evident for some time as the Water District's budget has been operating in the red for the past few years, according to Ballard Mayor Thomas Nordstrom.
The depreciation of the system's assets, as well as increased costs for everything from purchasing of water from the Ute Tribe as well as higher costs to replace, repair, maintain and expand the system, have caused a strain on the budget, said Mark Reidhead, president of the Ballard Water and Sewer Improvement District.
The city is growing, and so grows the need for water. According to the Ballard City and Ballad Water Improvement District newsletter going out to consumers with the December bill, approximately 50 building permits have been given out this year alone. This includes two new three story hotels to help with the shortage of rooms for both the traveling public as well as oilfield workers. “We are getting more and more of a demand all the time,” he said.
While he expects to hear from some consumers, Reidhead said he believes some people understand the need for the increase. “If we want to keep water flowing, the people I've talked to are saying 'if we need the water, we have to pay for it,'” he said.
The increase goes into effect January. Uintah Basin Standard
There will be a raise in both the property tax mill levy for the Water District as well as a fee increase for water usage.
The need to raise the cost of water to consumers had been evident for some time as the Water District's budget has been operating in the red for the past few years, according to Ballard Mayor Thomas Nordstrom.
The depreciation of the system's assets, as well as increased costs for everything from purchasing of water from the Ute Tribe as well as higher costs to replace, repair, maintain and expand the system, have caused a strain on the budget, said Mark Reidhead, president of the Ballard Water and Sewer Improvement District.
The city is growing, and so grows the need for water. According to the Ballard City and Ballad Water Improvement District newsletter going out to consumers with the December bill, approximately 50 building permits have been given out this year alone. This includes two new three story hotels to help with the shortage of rooms for both the traveling public as well as oilfield workers. “We are getting more and more of a demand all the time,” he said.
While he expects to hear from some consumers, Reidhead said he believes some people understand the need for the increase. “If we want to keep water flowing, the people I've talked to are saying 'if we need the water, we have to pay for it,'” he said.
The increase goes into effect January. Uintah Basin Standard
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