Wyoming unemployment down as jobs disappear

An analysis of fourth quarter statistics shows Wyoming’s unemployment rate has steadily decreased from 5.6 percent in May 2016 to 3.9 percent in June 2017. But the news may not be as positive as it looks. A good share of the improvement could be due to a declining workforce population. According to the Wyoming Department of Workforce Services, total payroll decreased by $295.4 million (-8.7 percent) from the fourth quarter of 2015 to the fourth quarter of 2016. During the same time, employment fell by 11,767 jobs (-4-2 percent) and average weekly wages fell by $44 (–4.7 percent). The largest job losses occurred in the mining sector, including oil and gas, construction, wholesale trade, transportation, and retail trade. Teton County was one of the few Wyoming counties to add jobs during the period. Teton County added 635 jobs (3.5 percent) and total payroll increased by $4.4 million (2 percent). More than 200 jobs were added to the accommodation and food services sector, 100 jobs were added in the arts, entertainment, and recreation sector and about 100 jobs were added in local government, including public schools. The department is projecting the first quarter of 2017 may be on a similar course. According to preliminary data, employment fell by about 7,400 jobs and total payroll increased by .4 percent. More details are available here.