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The State of Utah’s latest jobs report shows continued economic growth and a reduction in the unemployment rate for the month of August.
“Utah continues to add jobs even while many other state economies remain stagnant,” Gov. Gary R. Herbert said. “If you’re looking for examples of wise economic stewardship and fiscal prudence – look to Utah.”
Utah’s unemployment rate dropped to 5.8 percent for the month of August, and the job count grew by 2 percent compared to August 2011. This equates to a 12-month job increase of 24,300 jobs. This data shows a stark contrast to the national job growth of 1.4 percent and unemployment rate of 8.1 percent.
Utah’s lowest job count in the aftermath of the recession was measured in February 2010, and since then Utah has added more than 60,000 jobs.
One company that exemplifies Utah’s growth is Edwards Lifesciences. Edwards is a medical device technology producer that is a market leader in high-tech heart valves. Edwards is known for producing a device called a trans-catheter heart valve, which allows surgeons to replace a heart valve without performing open heart surgery.
Edwards is based in Irvine, California, but has a growing facility in Draper, Utah.
In the past two years Edwards has doubled the number of jobs at its Draper facility, and plans to reach 1,000 jobs in the next few years.