With an economy heavily dependent on oil and gas, the spike in Unemployment Insurance (UI) claims in Wyoming was not unexpected when oil prices plunged in late 2014. Even with evidence of job losses across the state, especially in the mining industry, Wyoming’s unemployment rate remained steady between 4.0% and 4.2% without significant over-the-month changes from December 2014 to November 2015 (Bullard, 2016). This article looks at individuals all over the United States filing claims for UI benefits from a Wyoming employer and how they affect the unemployment rate.
Read Article Box: CPS Definition of Unemployment
Unemployed Persons by Reason for Unemployment in Wyoming, Fourth Quarter 2014 (2014Q4) and Fourth Quarter 2015 (2015Q4)
This article looks at the characteristics of unemployment collected from the Current Population Survey (CPS) for 2014 compared to 2015 in order to understand what is happening in the Wyoming labor market. The CPS is a monthly survey of households that the U.S. Census Bureau conducts in each state for the Bureau of Labor Statistics. Reviewing the detailed data underlying the total estimate of unemployment can provide clues as to the functioning of Wyoming’s labor market.
This article is excerpted from Occasional Paper No. 8: The Education and Work Experience of Youth in Wyoming’s Counties.
This report includes an analysis of the following topics:
- Postsecondary Education Enrollment
- Students in the Workforce
Read Article Occasional Paper No. 8
The newest short-term industry and occupational projections from the Research & Planning (R&P) section of the Wyoming Department of Workforce Services indicate that Wyoming’s job market will contract during the two-year period from 2015 to 2017.
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U.S. and Wyoming Seasonally Adjusted Unemployment Rate
Wyoming’s seasonally adjusted unemployment rate rose slightly from 3.7% in April to 3.8% in May 2014 (not a statistically significant change). Wyoming’s unemployment rate increased significantly from 4.1% in November to 4.3% in December. Wyoming’s unemployment rate was slightly higher than its December 2014 level of 4.2% and much lower than the current U.S. unemployment rate of 5.0%.