Utah residents are performing better financially than residents in 27 other states when coping with the rising costs of necessities, according to a recent national study. The research analyzed data from 48 states compiled between 2023 and 2026, focusing on median household income, unemployment, and poverty rates.
The study by the Chamber of Commerce of Great Philadelphia found that Utah’s poverty rate declined by 0.6 percent during the analyzed period. Additionally, unemployment in the state dropped by 0.1 percent, while median household income rose by 3.62 percent. Ileana Fortuño of the Chamber of Commerce for Greater Philadelphia noted that while most states saw poverty ease, households can still fall behind if paychecks grow more slowly than everyday costs.
While Utah's economy remains relatively strong, the Utah Democratic Party released estimates in an Oct. 15 social media post regarding the impact of the Trump administration's agenda on Utahns. The party's estimates suggested annual increases include $310 for groceries, over $1,200 for gasoline, a 50 percent increase in healthcare expenses, $600 for housing, and approximately $90 for utilities.
The study revealed that poverty rates increased in North Dakota, Rhode Island, Nebraska, Colorado, and Minnesota, with rates varying between 0.1 percent and 0.8 percent. Six of the top 10 states where poverty is increasing are located in the Midwest: North Dakota, Nebraska, Minnesota, Missouri, Indiana, and Michigan. Colorado was the only Western state identified among those seeing rising poverty rates.
Ileana Fortuño recommended that families facing financial struggles check their eligibility for the federal Earned Income Credit and seek local assistance for rent, utilities, and food. Fortuño also stated that employers can assist workers by providing predictable schedules, clear routes to promotion, and help with childcare costs.
