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Provo-Orem and Salt Lake are top spots for millennials

• Provo-Orem has the highest percentage of millennials of total population (30.4 percent) out of any of the top 100 metros in the United States, while Salt Lake comes in with the 9th spot as 26.2 percent millennial. In fact, Utah has the highest percent of millennials (26.1) out of all the states with a total population of at least one million. These numbers not only highlight Utah’s younger workforce but also correlate into a more educated workforce. More than a third of millennials ages 25-34 have achieved college educations by 2015, compared to less than 30 percent in 2000, and less than 25 percent in 1980 for the same age group.

• This younger, more educated workforce directly contributed to a 3.2 percent job growth rate for Utah over the last twelve months and a current 3.1 percent unemployment rate. Compared to a national 1.5 percent job growth rate over the same period, and a 4.1 percent current unemployment rate, Utah is far outpacing the field. This has led to robust growth in new construction and delivered inventory in office, industrial, retail, and multifamily product, as well as prominent national tenants like Amazon, UPS, Goldman Sachs, and SoFi occupying new space. 

Source: JLL Research, Brookings Institute

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