Overview
Salt Lake City is also the largest industrial banking center in the United States. The city is known as the "Crossroads of the West" for its central geography in the Census defined western United States. Salt Lake is about an equal distance from Los Angeles, Denver, San Francisco, Portland, Phoenix, and Seattle. As a result, Interstate 15 is a major corridor for freight traffic and the area is host to many regional centers such as Dannon Yogurt and Sysco.
World War II brought many military and industrial jobs to the Salt Lake Valley. Hill Air Force Base was activated on November 7, 1940.
Local, state, and federal governments have their largest presence in Salt Lake City, accounting for 21% of employment. Trade, transportation, and utilities account for another 18% of employment, with the major employer's being the regional Delta Air Lines hub at Salt Lake City International Airport. Equally significant are the professional and business services, which account for another 18% of employment. Health services and health educational services comprise an additional 10% of employment. Other major employers include the University of Utah, Sinclair Oil Corporation, and The Church of Jesus Christ of Latter-day Saints.
| Rate of Unemployment* | |
| Year | % |
| 2003 | 6.7 |
| 2002 | 7.3 |
| 2001 | 5.0 |
| 2000 | 3.5 |
| 1999 | 4.0 |
Read more about this topic: Economy Of Salt Lake City