Continues in July
by: David Bullard, Senior Economist
Wyoming job growth continued at a moderate pace as 6,600 jobs (2.5%) were created compared to July 2004. The state’s seasonally adjusted unemployment rate increased slightly, rising from 3.7% in June to 4.1% in July (not a statistically significant change). It remained well below the U.S. unemployment rate of 5.0%. Wyoming’s labor force (the sum of employed and unemployed individuals) rose by 5,301 persons or 1.8% from its July 2004 level.
From June to July, employment followed its normal seasonal pattern and fell by 2,500 jobs or 0.9%. Seasonal employment increases in Construction (700 jobs or 3.2%), Retail Trade (400 jobs or 1.3%), Professional & Business Services (600 jobs or 3.6%), and Leisure & Hospitality (1,000 jobs or 2.7%) partially offset the seasonal decline in Government employment (-5,200 or -7.8%). Government employment fell as public schools and colleges let out for the summer.
Job gains from July 2004 were widespread throughout Wyoming’s economy. Natural Resources & Mining (including oil & gas) created the largest number of jobs (2,100 or 10.2%), followed by Construction (1,300 jobs or 6.2%). Other growing sectors included Wholesale Trade (300 jobs or 4.0%), Retail Trade (300 jobs or 1.0%), Professional & Business Services (800 jobs or 4.9%), Educational & Health Services (500 jobs or 2.3%), Leisure & Hospitality (600 jobs or 1.6%), Other Services (200 jobs or 2.0%), and Government (300 jobs or 0.5%). Employment was unchanged in Manufacturing and Information.
Across Wyoming’s 23 counties, most unemployment rates were stable or increased slightly from June to July. The highest unemployment rate was found in Fremont County (5.0%), followed by Platte County (4.6%) and Goshen County (4.4%). Sublette County continued to have the lowest unemployment rate (2.0%), followed by Teton County (2.5%) and Campbell County (2.7%).
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