Utah has heard a lot of praise lately for its economic performance, and rightly so. Utah has the nation’s 2nd lowest unemployment rate (3.6 percent), 2nd highest rate of job growth (3.5 percent or 44,700 new jobs), 3rd highest household income ($59,770), and 3rd best ratio of income inequality.
This is likely due to several factors such as Utah’s cultural work ethic – our motto is “Industry,” after all – and good economic policies enacted by Governor Gary Herbert and the Utah Legislature in the years during and after the so-called “Great Recession.” But based on demographic reports and recently published research from the National Bureau of Economic Research, it is also likely due, in no small part, to Utah’s strong family culture.
In addition to Utah’s consistently high economic rankings, the state also ranks at or near the top in most (but not all) measures of family strength and creation. For example, based on the most recent data from the Census Bureau, Utah has the nation’s largest median family size (3.66 people), youngest age at first marriage (25.9 years for men, 24 years for women), highest portion of households headed by married couples (61.4 percent), highest portion of married-couple households with children (31.5 percent), and highest fertility rate (72 per 1,000 women age 15-50).
Of course, correlation is not causation, so what connects these strong family measures to Utah’s solid economic performance? One explanation is the relative youth of the state’s population and how that drives job creation through the creation of the new businesses. Continue reading