Wyoming Unemployment Rate Unchanged at 4.6% in July 2013
The Research & Planning section of the Wyoming Department of Workforce Services reported that the state’s seasonally adjusted1 unemployment rate was unchanged at 4.6% in July. Wyoming’s unemployment rate remained lower than its July 2012 level (5.5%) and the current U.S. unemployment rate (7.4%). Seasonally adjusted employment of Wyoming residents fell slightly, decreasing by 612 individuals (-0.2%) from June to July.
Most county unemployment rates followed their normal seasonal pattern and fell from June to July. Typically, employment rises in many sectors in July, including construction, retail trade, professional & business services, and leisure & hospitality. The largest unemployment rate decreases occurred in Teton (down from 3.8% in June to 3.1% in July), Uinta (down from 4.8% to 4.3%), and Laramie (down from 4.9% to 4.4%) counties. Unemployment increased slightly in Fremont County (up from 5.8% to 5.9%) and was unchanged in Platte County (4.9%).
Fremont County posted the highest unemployment rate in July (5.9%). It was followed by Big Horn (5.0%), Goshen (5.0%), Lincoln (4.9%), and Platte (4.9%) counties. The lowest unemployment rates were found in Teton (3.1%), Sublette (3.2%), and Converse (3.3%) counties.
Unemployment rates fell in every county from July 2012 to July 2013, possibly indicating modest improvement in the state’s economy. The largest decreases were seen in Lincoln (down from 7.3% to 4.9%), Laramie (down from 6.0% to 4.4%), and Big Horn (down from 6.5% to 5.0%) counties.
Total nonfarm employment (measured by place of work) rose from 296,800 in July 2012 to 301,400 in July 2013, a gain of 4,600 jobs (1.5%).
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.