Business Applications with Planned Wages for Utah
WBUSAPPWNSAUT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
100.00
Year-over-Year Change
-28.57%
Date Range
6/10/2006 - 8/2/2025
Summary
The 'Business Applications with Planned Wages for Utah' trend tracks the number of new business applications in Utah that include plans for hiring workers. This metric provides insight into entrepreneurial activity and local economic conditions.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This data series from the U.S. Census Bureau monitors the volume of new business applications in Utah that indicate intended hiring. It serves as an early indicator of job creation and business dynamism in the state.
Methodology
The data is collected through the Business Formation Statistics program, which analyzes administrative records from the Internal Revenue Service.
Historical Context
Policymakers and analysts use this metric to assess the health and trajectory of Utah's small business and labor markets.
Key Facts
- Utah consistently ranks among the top states for new business formations.
- Applications with planned wages signal intent to hire and expand operations.
- The COVID-19 pandemic caused a temporary decline in new business applications in Utah.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the number of new business applications in Utah that include plans for hiring workers, providing insight into entrepreneurial activity and local economic conditions.
Q: Why is this trend relevant for users or analysts?
A: This data series serves as an early indicator of job creation and business dynamism in Utah, which is valuable for policymakers and analysts assessing the health of the state's small business and labor markets.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's Business Formation Statistics program, which analyzes administrative records from the Internal Revenue Service.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to monitor the entrepreneurial landscape and labor market conditions in Utah, informing decision-making and policy development.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical lag of several weeks. As an administrative data source, there may be revisions to historical figures over time.
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Citation
U.S. Census Bureau, Business Applications with Planned Wages for Utah (WBUSAPPWNSAUT), retrieved from FRED.