The Wyoming Department of Workforce Services’ Research & Planning section has released the latest unemployment figures for March 2024, which show Teton County continuing to maintain one of the lowest unemployment rates in the state at 2.1%. This rate is a slight improvement over the general state unemployment rate, which held steady from February to March at 2.8%.
Teton County Holds Steady
Across Wyoming, unemployment rates typically dropped in March, attributed to seasonal job increases in sectors such as construction, professional services, and government due to warmer weather. While Teton County’s rate represents a consistent low, other counties saw more significant fluctuations.
Year over year, from March 2023 to March 2024, most counties in Wyoming experienced a decrease in unemployment rates, indicating a tightening labor market. Notable exceptions were Big Horn and Weston counties, where rates slightly increased.
Statewide Employment Grows
Statewide, total nonfarm employment has grown, with an estimated increase of 2,700 jobs since March 2023. This reflects a gradual but steady growth in employment opportunities across various sectors.
For Teton County, maintaining a low unemployment rate amidst state and national economic contexts suggests a robust local economy well-supported by a range of industries. As warmer months approach, potentially bringing more seasonal employment opportunities, it will be interesting to observe how these trends continue to develop.
The next set of data, including April’s unemployment figures, will be available on May 20, 2024, providing further insights into the ongoing economic recovery and development within Wyoming and particularly in Teton County.
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