"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 decreased slightly from 3.3% in April to 3.2% in May. Wyoming’s unemployment rate is lower than the current U.S. rate of 3.6%. From April to May, seasonally adjusted employment of Wyoming residents rose by 523 individuals (0.2%) as people returned to work.
From April to May, unemployment rates followed their normal seasonal pattern and decreased in most counties. In May, warmer weather typically brings seasonal job gains in construction, professional & business services, leisure & hospitality, and government. The largest decreases in unemployment were seen in Teton (down from 4.3% to 3.3%), Sublette (down from 4.4% to 3.5%), Big Horn (down from 3.9% to 3.2%), and Park (down from 3.5% to 2.9%) counties.
From May 2021 to May 2022, unemployment rates fell in every county. The largest decreases occurred in key energy producing counties. Natrona County’s unemployment rate fell from 6.2% to 3.8%, Sweetwater County’s rate fell from 6.0% to 3.7%, Sublette County’s rate fell from 5.8% to 3.5%, Converse County’s rate fell from 5.1% to 2.8%, and Campbell County’s rate fell from 5.5% to 3.3%.
Niobrara County, at 1.8%, had the lowest unemployment rate in May. It was followed by Crook County at 2.2%, and Weston and Goshen counties, both at 2.3%. The highest unemployment rates were found in Natrona County at 3.8%, Sweetwater County at 3.7%, and Sublette and Washakie counties, both at 3.5%.
Total nonfarm employment in Wyoming (not seasonally adjusted and measured by place of work) rose from 278,400 in May 2021 to 283,700 in May 2022, an increase of 5,300 jobs (1.9%). 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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