"Labor Market Information (LMI) is an applied science; it is the systematic collection and analysis of data which describes and predicts the relationship between labor demand and supply." The States' Labor Market Information Review, ICESA, 1995, p. 7.
by: David Bullard, Senior Economist
The Research & Planning section of the Wyoming Department of Workforce Services reported that the state’s seasonally adjusted1 unemployment rate fell from 3.4% in March to 3.3% in April. Wyoming’s unemployment rate has been trending downward since its peak of 8.6% in May 2020 and it is slightly lower than the current U.S. rate of 3.6%. From March to April, seasonally adjusted employment of Wyoming residents increased by 581 individuals (0.2%) as people returned to work.
From March to April, jobless rates fell slightly in most counties. Teton County was the exception. Its unemployment rate rose from 2.2% in March to 4.3% in April as the ski season ended.
Unemployment rates decreased from their year-ago levels in every county around the state. County unemployment rates were elevated during much of 2021 because of the pandemic and the decreases in 2022 reflect a return to more normal levels. The largest decreases in April 2022 occurred in Natrona (down from 6.8% to 4.4%), Converse (down from 5.5% to 3.2%), Uinta (down from 5.6% to 3.5%), Sweetwater (down from 6.1% to 4.1%), Sublette (down from 6.4% to 4.4%), and Campbell (down from 5.6% to 3.6%) counties.
In April 2022, the highest unemployment rates were found in Natrona County and Sublette County, both at 4.4%. They were followed by Teton County at 4.3% and Sweetwater County at 4.1%. The lowest rates were reported in Niobrara County at 2.0% and Goshen County at 2.4%.
Total nonfarm employment in Wyoming (not seasonally adjusted and measured by place of work) rose from 272,300 in April 2021 to 280,800 in April 2022, an increase of 8,500 jobs (3.1%). Employment was unusually low in 2021 because of economic disruptions related to the pandemic.
R&P's most recent monthly news release is available at https://doe.state.wy.us/lmi/news.htm.
1Seasonal adjustment is a statistical procedure to remove the impact of normal regularly recurring events (such as weather, major holidays, and the opening and closing of schools) from economic time series to better understand changes in economic conditions from month to month.
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