Wyoming Unemployment Rate Falls to 4.6% in May 2013
The Research & Planning section of the Wyoming Department of Workforce Services has reported that the state’s seasonally adjusted1 unemployment rate fell from 4.8% in April to 4.6% in May (not a statistically significant change). It remained significantly lower than the current U.S. unemployment rate of 7.6%. Seasonally adjusted employment of Wyoming residents increased slightly, rising by 983 individuals (0.3%) from April to May.
Across all of Wyoming’s 23 counties, unemployment rates followed their normal pattern and fell from April to May. Typically, job gains are seen in many sectors in May, including construction, professional & business services, leisure & hospitality, and government. The largest unemployment rate decreases occurred in Teton (down from 9.0% to 6.4%), Lincoln (down from 6.8% to 5.3%), and Johnson (down from 6.1% to 4.9%) counties.
The highest unemployment rates were found in Teton (6.4%), Lincoln (5.3%), and Fremont (5.2%) counties. Niobrara County posted the lowest unemployment rate (3.1%). It was followed by Sublette (3.2%), Converse (3.2%), and Albany (3.4%) counties.
From May 2012 to May 2013, unemployment rates decreased in every county, possibly suggesting modest improvement in the state’s economy. The largest declines were seen in Teton (down from 9.3% to 6.4%), Lincoln (down from 7.9% to 5.3%), and Laramie (down from 6.0% to 4.5%) counties.
Total nonfarm employment (measured by place of work) fell from 291,600 in May 2012 to 290,700 in May 2013, a decline of 900 jobs (-0.3%).
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.