Wyoming Unemployment Rate Fell to 4.5% in September Then Rose to 4.6% in October 2013
The Research & Planning section of the Wyoming Department of Workforce Services has reported that the state’s seasonally adjusted1 unemployment rate fell to 4.5% in September and then rose to 4.6% in October (neither change was statistically significant). Wyoming’s unemployment rate decreased from its year-ago level of 5.1% and remained significantly lower than the current U.S. unemployment rate of 7.3%. Seasonally adjusted employment of Wyoming residents fell slightly, decreasing by 456 individuals (-0.2%) from September to October.
County unemployment rates followed their normal seasonal pattern and increased from September to October. Employment tends to decrease in October in many sectors, including leisure & hospitality and construction. Teton County’s unemployment rate rose from 3.4% in September to 5.4% in October, likely because the summer tourist season ended and the ski season had not begun. Large unemployment rate increases were also seen in Park (up from 3.8% to 4.8%), Johnson (up from 4.3% to 5.0%), and Lincoln (up from 4.3% to 5.0%) counties.
The highest unemployment rates in October were found in Fremont (5.5%), Teton (5.4%), Johnson (5.0%), and Lincoln (5.0%) counties. Sublette County had the lowest unemployment rate (3.0%). It was followed by Converse (3.1%), Campbell (3.3%), and Niobrara (3.4%) counties.
From October 2012 to October 2013, the unemployment rate fell in 18 counties, rose in four counties, and was unchanged in Big Horn County. The largest decreases occurred in Lincoln (down from 5.9% to 5.0%), Teton (down from 6.1% to 5.4%), and Laramie (down from 5.2% to 4.5%) counties. Unemployment rates increased slightly in Johnson (up from 4.6% to 5.0%), Washakie (up from 4.1% to 4.5%), Goshen (up from 4.2% to 4.3%), and Niobrara (up from 3.3% to 3.4%) counties.
Total nonfarm employment (measured by place of work) rose from 292,600 in October 2012 to 295,000 in October 2013, a gain of 2,400 jobs (0.8%).
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.