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Wyo. unemployment rate fell each month from August to Dec

Wyo. unemployment rate fell each month from August to Dec

WASHINGTON: In January, Research & Planning reported that Wyoming’s unemployment rate decreased to 4.8 percent in December. After peaking at 5.7 percent in July 2016, the state’s unemployment rate fell each month from August to December. The unemployment rate comes from the household survey conducted each month by the U.S. Census Bureau for the Bureau of Labor Statistics. Unemployment rates can be affected by migration. If, for example, unemployed individuals move out of the state, the unemployment rate may decrease. This report, which focuses on changes in the number of jobs between second quarter 2015 and second quarter 2016, contains data from employers’ quarterly unemployment insurance tax filings (employers have one month after the end of the calendar quarter to submit their tax reports). It provides local detail by county and industry and can help explain more precisely how economic conditions changed in Wyoming between 2015 and 2016. From second quarter 2015 to second quarter 2016, total unemployment insurance (UI) covered payroll decreased by $183.5 million (-5.7 percent). Employment fell by 10,168 jobs (-3.6 percent) and average weekly wage decreased by $19 (-2.2 percent).

As in previous quarters, the largest job losses occurred in the mining sector (including oil & gas; 5,409 jobs, or –22.7 percent). In terms of dollars, UI covered payroll represents approximately 91.5 percent of all wage and salary disbursements and 43.8 percent of personal income in the state (U.S. Bureau of Economic Analysis, 2014).  Analysts have noted that “minerals related employment is one of the key predictors of sales and use tax revenue” in Wyoming (CREG, 2010). Employment rose in five counties and fell in 18 counties. Total payroll increased in eight counties and decreased in 15 counties. From second quarter 2015 to second quarter 2016, Teton County added 684 jobs (3.6 percent) and its total payroll grew by $12.9 million (6.7 percent). Job gains were seen in many sectors, including accommodation & food services, construction, administrative & waste services, local government, and real estate & rental & leasing.

Albany County gained 239 jobs (1.5 percent) and its total payroll rose by $4.9 million (3.2 percent). Employment increased in state government, manufacturing, local government (including public schools), administrative & waste services, wholesale trade, and construction. Job losses were seen in accommodation & food services, private educational services, and professional & technical services. From second quarter 2015 to second quarter 2016, Natrona County lost 3,028 jobs (-7.2 percent) and its total payroll fell by $77.0 million (-15.0 percent). Job losses were seen in mining (including oil & gas), manufacturing, wholesale trade, accommodation & food services, transportation & warehousing, and other services. Employment in Campbell County decreased by 2,896 jobs (-10.3 percent) and its total payroll fell by $52.7 million (-13.8 percent). Large job losses occurred in mining (including oil & gas), construction, wholesale trade, manufacturing, and other services. Sweetwater County lost 1,223 jobs (-5.2 percent) and its total payroll declined by $27.0 million (-8.0 percent). Employment fell in mining (including oil & gas), transportation & warehousing, wholesale trade, real estate & rental & leasing, and retail trade.

Converse County lost 726 jobs (-11.0 percent) and its total payroll fell by $8.7 million (-10.3 percent). Large job losses were seen in mining (including oil & gas), construction, accommodation & food services, transportation & warehousing, and professional & technical services. Fremont County’s employment fell by 710 jobs (-4.3 percent) and its total payroll decreased by  $11.5 million (-6.9 percent). Job losses occurred in local government, mining (including oil & gas), real estate & rental & leasing, and accommodation & food services.