Wyoming Unemployment Rate Unchanged at 4.0% in October 2015

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 was unchanged from September to October at 4.0%. Wyoming’s unemployment rate was slightly lower than its October 2014 level of 4.3% and significantly lower than the current U.S. unemployment rate of 5.0%. Seasonally adjusted employment of Wyoming residents decreased, falling by an estimated 956 individuals (-0.3%) from September to October.

From September to October, nearly all county unemployment rates followed their normal seasonal pattern and increased. As fall weather arrives, employment tends to decrease in leisure & hospitality, construction, and professional & business services. The largest unemployment rate increases occurred in Teton (up from 2.2% to 3.7%), Carbon (up from 2.8% to 3.5%), Niobrara (up from 2.3% to 2.8%), Park (up from 3.2% to 3.7%), and Sheridan (up from 3.2% to 3.7%) counties.

From October 2014 to October 2015, unemployment rates fell in 15 counties and rose in eight counties. The largest increases occurred in Natrona (up from 3.8% to 4.7%), Sweetwater (up from 3.8% to 4.4%), Campbell (up from 3.2% to 3.7%), and Converse (up from 2.9% to 3.3%) counties. Large decreases were seen in Teton (down from 4.9% to 3.7%), Lincoln (down from 4.7% to 4.0%), Washakie (down from 3.7% to 3.2%), Laramie (down from 4.0% to 3.5%), and Albany (down from 3.3% to 2.8%) counties.

Total nonfarm employment (measured by place of work) rose very slightly from 295,800 in October 2014 to 296,300 in October 2015, a gain of 500 jobs (or 0.2%; not a statistically significant change).

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.