Utah's 3.9-percent gain was the third highest in the Nation, but its growth in 1997 has not matched the increases in the past 3 years. Wyoming's economy was unable to duplicate the modest recovery of 1 year ago, and employment there remains practically unchanged from the second quarter of 1996. Unemployment rates remain low. Montana and Wyoming matched the U.S. unemployment rate in May, but all other States in the Rocky Mountain region were well below this level. South Dakota's 2.6-percent unemployment rate was the lowest in the region and the second lowest in the Nation.
Businesses continue to voice concerns about labor quality and availability.
A recent Denver Metro Chamber of Commerce survey indicated that finding qualified workers was the number one concern of businesses for the coming year. A local fast-food outlet offers discounts to customers who refer new employees to the outlet as long as the employees stay on the job for 30 days. Rental housing markets are balanced, and conditions have eased from the tightness of 12 months ago. Rent increases have slowed in most markets as concessions remain widespread, and effective rent increases have moderated. Apartment construction is slowing in the major Rocky Mountain markets.