© Copyright 2004 by the Wyoming Department of Employment, Research & Planning

High Rate of Growth Continuing for Wyoming Total Payroll and Average Wages

by: Susan J. Murray, Information Specialist/Desktop Publisher

Employment growth has been above 1.0 percent since August 2003, and the unemployment rate has dropped to a very low level (3.9%; see Seasonally Adjusted State Unemployment Rates). At the same time, the total payroll growth has been larger than 4.0 percent on an over-the-year basis since 3rd Quarter 2003 (2003Q3; see Figure). The most recent data indicate Wyoming is slightly above 7.0 percent growth in total payroll. The Current Price Index (CPI) is rising at a rate of 2.5 percent; however, the average monthly wage (see Table) has been growing at 2.8 percent or greater since 2003Q2. During the most recent three quarters, the average wage has been rising at a rate well above that of inflation (4.1%). This high rate of growth with a low unemployment rate does not seem sustainable without non-resident labor.

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