Labor Force Grows in 2003

Labor Force Grows in 2003

by: Nancy Brennan, David Bullard, Valerie A. Davis, Brad Payne, Krista R. Shinkle, and Sherry Wen

Table 1 contains annual average data for the Current Population Survey (CPS) population, labor force, establishment jobs, unemployed individuals, and annual Unemployment Insurance (UI) recipients. The percentage changes for the period 2002 to 2003 indicate that Wyoming experienced a marked increase in its labor force of 3.1 percent. However, due to what is called a “jobless recovery” by market analysts,¹ the number of unemployed individuals in Wyoming has steadily increased by 3.5 percent in 2001, 5.9 percent in 2002, and a projected 7.2 percent in 2003. The number of jobs worked increased by 1,000 jobs, but the percentage change is a slim 0.4 percent. While the 9.3 percent jump in UI recipients for 2003 is not as dramatic as the 18.4 percent increase experienced in 2002, it is still a significant change.

In first quarter 2003, Wyoming statewide over-the-year covered employment grew by 453 jobs or 0.2 percent (see Table 2). By second quarter, over-the-year growth increased to 1,488 jobs or 0.6 percent. Total wages for first quarter showed an over-the-year increase of 2.7 percent. Total wages for second quarter showed an over-the-year increase of 3.4 percent.

The Map identifies which states and regions experienced the greatest over-the-year changes in unemployment rate from October 2002 to October 2003. The states with the darkest shading indicate the largest unemployment increases. As a whole, the U.S. experienced little change in seasonally adjusted unemployment rates from 5.7 percent in 2002 to 6.0 percent in 2003 for a difference of only 0.3 percentage points. The largest over-the-year increase was 1.5 percentage points (Michigan). The largest decrease was -1.4 percentage points (Utah). Wyoming experienced a slight over-the-year decrease from 4.2 percent in October 2002 to 3.9 percent in October 2003.

¹Federal Reserve Bank of Kansas City. (2003). A closer look at jobless recoveries. News Release. Retrieved December 18, 2003.

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