A prominent economist has pointed to a broad slowdown in hiring across the United States, attributing it to growing uncertainty tied to trade policies, immigration regulations, and rapid technological change. However, he highlighted Utah as a state better positioned than most to withstand economic turbulence due to its strong social and institutional foundations.\n\nDr. Mark Zandi, chief economist at Moody Analytics, who regularly advises Congress and corporate leaders, spoke at the Kem C. Gardner Policy Institute in Salt Lake City. He noted that while the national economy continues to face headwinds, past resilience suggests it can adapt over time. Key sources of instability include fluctuating tariff policies, shifting immigration rules, and disruptions linked to artificial intelligence.\n\nThese factors, Zandi explained, have led businesses to pause expansion plans and limit new recruitment. \”Hiring has essentially stalled in many sectors and regions,\” he said. \”There’s a palpable freeze in job creation, driven largely by policy unpredictability and concerns about how automation might reshape entry-level employment, especially for younger workers.\”\n\nThe current labor market poses particular challenges for recent college graduates seeking their first roles. Despite this, some industries like healthcare and construction continue to add workers, according to Phil Dean, chief economist at the Gardner Institute. Dean emphasized that periods of economic uncertainty often open doors for innovation and strategic growth.\n\nCompared to other states, Utah benefits from a unique combination of political stability and community cohesion, which Zandi believes enhances its economic durability. \”Utah enjoys a rare advantage in terms of social unity,\” he remarked. \”This doesn’t make it invulnerable, but it does mean the state is more likely to navigate downturns successfully.\”\n— news from KUTV\n\n— News Original —\nEconomist points to hiring freeze across US, praises Utah’s economic stability\nA leading economist said the US job market has frozen amid uncertainty over tariffs, immigration, and technology, but Utah’s strong social and economic cohesion could help it weather the slowdown. \n\nMoody Analytics chief economist Dr. Mark Zandi frequently testifies before Congress and briefs corporations and policymakers on the economy. He was at the Kem C. Gardner Policy Institute in Salt Lake City on Thursday. \n\nDr. Zandi said the nation ‘s economy is facing its struggles, but the country has persevered. Factors such as tariffs, immigration policy, and now the government shutdown have created a sense of uncertainty. \n\nThat uncertainty has created a freeze in the job market and there is little to no job creation. \n\n”Behind that is there is a lack of hiring. There is absolutely no hiring ,there’s a hiring freeze, it feels like, across the industry and parts of the country,” Dr. Zandi said. “That probably goes to some of the uncertainty created by economic policy around the tariffs and immigration policy. It may also go in part to artificial intelligence and the impact that has on younger workers and their ability to get into the workforce.” \n\nThe workforce right now is shifting as younger college graduates are having a hard time landing a job. According to the institute ‘s chief economist Phil Dean, healthcare and construction are industries that are hiring right now. Dean adds on an optimistic note that times of uncertainty create opportunity. \n\nIn comparison to other states, Dr. Zandi says that Utah is in a place that could weather the storm better than most states. He adds what makes us unique is our social cohesion in our political landscape. \n\n”Utah is in an enviable position when it comes to social cohesion, I think that’s very important,” Dr. Zandi said. “There’s a lot going for Utah, and I think that will allow it to weather most storms better, but it ‘s not immune to the storms.” \n\n_____
