EMPLOYMENT QUICK FACTS November 2016

JOBS ADDED: 178,000

EMPLOYMENT GROWTH: 1.6%

UNEMPLOYMENT: 4.6%

Sources: U.S. Bureau of Labor Statistics

EMPLOYMENT CHANGES BY INDUSTRY

November 2015 - November 2016

INDUSTRYGrowth

RateTotal

Change

Natural Resources & Mining -11.5% -89,000

Construction 2.4% 155,000

Manufacturing -0.4% -54,000

Trade, Trans., Utilities 1.3% 337,000

Information 0.5% 15,000

Financial Activity 1.9% 153,000

Professional & Business Services 2.9% 571,000

Education & Health Services 2.6% 581,000

Leisure & Hospitality 1.9% 293,000

Other Services 1.3% 74,000

Government 1.0% 217,000

Source: Bureau of Economic Analysis

UNEMPLOYMENTNovember 2016

Source: U.S. Bureau of Labor StatisticsNote: Jobs added in thousands

Effective Federal Funds Rate (Nov 2016) 0.41%

Prime Rate (Nov 2016) 3.50%

10 Year U.S. Treasury (As of Dec 2, 2016) 2.39%

30 Year Mortgage Rate Fixed (As of Dec 2, 2016) 4.11%

Personal Consumption Expenditures Change (Oct 2015-Oct 2016)

+1.4%

Consumer Price Index Change (Oct 2015-Oct 2016) +1.6%

Producer Price Index (Oct 2016) +0.9%Source: U.S. Federal Reserve, Freddie Mac, Bureau of Economic Analysis

YEAR-OVER-YEAR AVERAGE HOURLY WAGE GROWTH

Source: U.S. Bureau of Labor Statistics

+2.5% Nov 2016

2007 - 2016 Wage Growth Average = +2.4%

The United States economy is growing modestly and is consistent with a mature economic environment. Employment grew by 178,000 jobs in November, a 1.6 percent yearly growth rate. The nation’s unemployment dropped to its lowest point in over nine years to 4.6 percent in November. Yearly wage growth dipped slightly from October to November at 2.5 percent, but is still increasing at a quicker pace than recent years. Year-over-year growth in consumer spending and inflation were up over last month, reaching the highest levels they have seen in two years, with the Personal Consumption Expenditure increasing by 1.4 percent, and the Consumer Price Index up 1.6 percent. Consumer confidence was also on the rise, up over 14 points from November 2015 to November 2016 at 107.1, approaching the threshold of 110, which level indicates economic prosperity.

INTEREST RATES AND INFLATION

4.6% = Lowest since Aug. 2007

Highlights DEC 2016

ROBERT SPENDLOVEEconomic and Public Policy Officer

Contact our team for more information or to schedule a speaking engagement.

robert.spendlove@zionsbank.com (801) 560-5394

deborah.speed@zionsbank.com (801) 844-7887www.zionsbank.com/economy

Content is offered for informational purposes only and should not be construed as tax, legal, financial or business advice. Please contact a professional about your specific needs and advice. Content may contain trademarks or trade names owned by parties who are not affiliated with ZB, N.A. Use of such marks does not imply any any sponsorship by or affiliation with third parties, and ZB, N.A. does not claim any ownership of or make representations about products and services offered under or associated with such marks.

A division of ZB, N.A. Member FDIC As of December 2, 2016

GROSS DOMESTIC PRODUCT 3Q 2016 GDP= 3.2%

Source: American Bankers Association Analysis of Data from Bureau of Economic Analysis

HOUSINGMedian Home Sale Price

Source: Graphiq.com reporting of data from CoreLogic

ENERGYOil Price and Rig Count

Source: Baker Hughes and U.S. Energy Information Administration—West Texas Intermediate Weekly Spot Price Average

CONSUMER CONFIDENCEU.S. Consumer Confidence Index

Source: The Conference Board

Above 110 indicates economic prosperity

Nov 2016 Consumer Confidence Index: 107.1Nov 2015 to Nov 2016 CCI Change: +14.5 points

• Population Growth Rate: 0.8% (2015: 321,418,820)

• Total Fertility Rate: 1.86 (2013)

• Median Age: 37.8 (2015)

• Household Size: 2.65 (2015)

• Median Household Income: $56,516 (2015)

• Annual Mean Wages & Salaries: $48,320 (2015)

• Per Capita Personal Income: $47,669 (2015)

• Personal Income(% Change): 4.4% (2014-2015)Source: U.S. Census Bureau of Economic Analysis, U.S. Bureau of Labor Statistics,

National Center for Health Statistics, statista.com.

QUICK FACTS

$214,056 Sept 2016

Fixed Investment

Inventories Net Exports

Government

Personal Consumption