Wyoming Unemployment Rate Falls to 5.1% in October 2016

Wyoming Research & Planning    11-22, 2016

Employment data for October 2016 is now available on the Internet via http://doe.state.wy.us/LMI/news.htm

The Research & Planning section of the Wyoming Department of Workforce Services reported today that the state’s seasonally adjusted unemployment rate fell significantly from 5.4% (as revised) in September to 5.1% in October. Wyoming’s unemployment rate has now fallen for three consecutive months, but remains higher than its October 2015 level of 4.3%. Seasonally adjusted employment of Wyoming residents increased significantly, rising by an estimated 1,813 individuals (0.6%) from September to October. Wyoming’s labor force and employment both declined from year-ago levels. Labor force fell by 3,602 individuals (-1.2%) and employment fell by 5,997 individuals (-2.1%).

From September to October, most county unemployment rates changed very little. However, Teton County’s unemployment rate rose from 2.0% to 3.0% and Park County’s unemployment rate rose from 3.6% to 3.9%. Unemployment rates often increase in October in some parts of the state as the summer tourist season has ended and the winter season has not yet started. Falling unemployment rates were seen in Campbell (down from 6.9% to 6.3%), Natrona (down from 6.6% to 6.3%), Fremont (down from 6.4% to 6.1%), and Converse (down from 5.6% to 5.3%) counties.

From October 2015 to October 2016, unemployment rates rose in 17 counties, fell in two counties, and were unchanged in four counties. The largest increases were seen in Campbell (up from 3.8% to 6.3%), Converse (up from 3.4% to 5.3%), Natrona (up from 4.8% to 6.3%), and Weston (up from 3.1% to 4.6%) counties. Unemployment rates decreased in Teton (down from 3.8% to 3.0%) and Lincoln (down from 4.1% to 3.6%) counties and were unchanged in Albany (2.8%), Big Horn (3.9%), Goshen (3.0%), and Niobrara (2.9%) counties.

Campbell and Natrona counties had the highest unemployment rates in October (both 6.3%). The next highest rates were found in Fremont (6.1%), Converse (5.3%), Sublette (5.3%), and Sweetwater (5.3%) counties. Albany County posted the lowest unemployment rate (2.8%), followed by Niobrara (2.9%), Teton (3.0%), and Goshen (3.0%) counties.

Total nonfarm employment (not seasonally adjusted and measured by place of work) fell from 291,600 in October 2015 to 281,100 in October 2016, a decrease of 10,500 jobs (or –3.6%; a statistically significant decrease).

Research & Planning has scheduled the November employment news release for December 20, 2016.