Remains Low in July
by: David Bullard, Senior Economist
Wyoming’s seasonally adjusted unemployment rate held steady at 3.6 percent in July. It remains well below its July 2003 level of 4.3 percent and the current U.S. unemployment rate of 5.5 percent. Wyoming job growth continued at a healthy pace in July as 4,700 jobs (1.8%) were added on an over-the-year basis.
From June to July, employment fell by 3,000 jobs or 1.1 percent. This seasonal decrease occurs every year when public schools close for the summer (Government employment fell by 5,800 jobs or 8.8%). Job gains in Natural Resources & Mining (500 jobs or 2.5%), Construction (300 jobs or 1.4%), and Leisure & Hospitality (1,700 jobs or 4.8%) helped offset seasonal job losses.
From July 2003 to July 2004, Wyoming added 4,700 jobs or 1.8 percent. Natural Resources & Mining (including oil & gas) continued to dominate the job gains (1,800 jobs or 9.5%). Other notable job gains were seen in Wholesale Trade (300 jobs or 4.2%), Financial Activities (300 jobs or 2.9%), Educational & Health Services (900 jobs or 4.3%), Leisure & Hospitality (800 jobs or 2.2%), and Government (900 jobs or 1.5%). Employment fell slightly in Information (-200 jobs or -4.8%), Professional & Business Services (-100 jobs or -0.6%), and Other Services (-300 jobs or -3.1%).
As expected, most county unemployment rates decreased slightly in July. The largest decrease occurred in Teton County where the unemployment rate fell from 2.6 percent in June to 1.8 percent in July. Other large decreases were seen in Johnson County (down from 1.6% to 1.1%), Fremont County (down from 5.2% to 4.7%), and Crook and Carbon counties (both down from 3.5% to 3.0%).
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