Wyoming Unemployment Rate at 4.6% in August 2014

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 rose from 4.4% in July 2014 to 4.6% in August (not a statistically significant change). Wyoming’s unemployment rate was unchanged from its August 2013 level, but significantly lower than the current U.S. unemployment rate of 6.1%. Seasonally adjusted employment of Wyoming residents decreased slightly, falling by an estimated 946 individuals (-0.3%) from July to August.

Most county unemployment rates followed their normal seasonal pattern and fell slightly from July to August. The largest decreases occurred in Fremont (down from 5.8% to 5.1%), Platte (down from 5.3% to 4.7%), and Johnson (down from 4.9% to 4.4%) counties.

From August 2013 to August 2104, unemployment rates fell in 12 counties, increased slightly in nine counties and were unchanged in two counties. The largest decreases were seen in Fremont (down from 5.7% to 5.1%), Campbell (down from 3.6% to 3.2%), and Johnson (down from 4.7% to 4.4%) counties. Unemployment rates increased slightly in Weston (up from 3.6% to 4.2%) and Albany (up from 4.0% to 4.3%) counties.

Fremont County posted the highest unemployment rate in August (5.1%). It was followed by Lincoln (4.9%), Big Horn (4.7%), Laramie (4.7%), and Platte (4.7%) counties. The lowest unemployment rates were found in Sublette (2.8%), Teton (3.0%), and Converse (3.1%) counties.

Total nonfarm employment (measured by place of work) rose from 297,200 in August 2013 to 301,900 in August 2014, a gain of 4,700 jobs (1.6%).

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.