5,900 New Jobs Created
by: David Bullard, Senior Economist
Wyoming’s economy continued to perform well in January. On an over-the-year basis, 5,900 new jobs were created, giving the state a growth rate of 2.4 percent. The seasonally adjusted unemployment rate fell from 3.7 percent in December to 3.4 percent in January and remained well below the U.S. unemployment rate of 5.2 percent.
From December to January, Wyoming employment followed its normal seasonal pattern and fell by 6,200 jobs (-2.4%). This seasonal decrease is similar to those seen in previous years. Seasonal decreases occurred in Construction (-1,500 jobs or -8.2%), Retail Trade (-1,400 jobs or -4.6%), Professional & Business Services (-400 jobs or -2.7%), Leisure & Hospitality (-600 jobs or –2.0%), and Government (-1,200 jobs or -1.8%). Employment remained stable in the Information sector.
From January 2004 to January 2005, Wyoming gained 5,900 jobs or 2.4 percent. The state continues to benefit from relatively high energy prices and natural gas drilling activity. Natural Resources & Mining, including oil & gas, added 2,500 jobs or 13.2 percent. Other industries which grew in January included Wholesale Trade (400 jobs or 5.6%), Manufacturing (300 jobs or 3.3%), Educational & Health Services (600 jobs or 2.8%), and Leisure & Hospitality (600 jobs or 2.1%). No major industries lost jobs when compared to January 2004.
County unemployment rates followed their normal seasonal pattern and increased from December to January. Platte County posted the highest unemployment rate in January (6.3%) and was followed closely by Fremont County and Big Horn County (both 6.1%). Sublette County had the lowest unemployment rate (2.4%), followed by Campbell County (3.2%).
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