Salt Lake metro area's unemployment rate rises

The Salt Lake metro's unemployment rate climbed to 3.1% in June, continuing a steady incline since late 2021.

The big picture: Salt Lake's labor market was ranked hottest in the nation last year by the Wall Street Journal, mostly driven by white-collar industries like tech and finance.

By the numbers: June's unemployment rate is a .5% increase compared to the same time last year.

Zoom out: The U.S. economy added 114,000 jobs in July, while the unemployment rate rose to 4.3%, the Labor Department said on Friday.

The bottom line: The jobless rate kept moving higher in July, adding to fears that the labor market — the bedrock of the economy — is slowing down and the economy is at risk of a recession.

• The national unemployment rate, which was 4.1% in June, is the highest since 2021.