Wyoming Unemployment Rate Drops to 3.5% in April

The Research & Planning section of the Wyoming Department of Workforce Services has released its latest report, revealing a decline in the state’s seasonally adjusted unemployment rate. In April, the rate fell from 3.7% in March to 3.5%, indicating positive progress in Wyoming’s labor market. Although the current unemployment rate is slightly higher than the national average of 3.4%, it remains lower than the state’s April 2022 rate of 3.2%. The report also highlights job gains and changes in unemployment rates across various counties in Wyoming.

Increase in Employment

The report indicates that seasonally adjusted employment of Wyoming residents saw a positive trend, with 1,376 individuals (0.5%) returning to work between March and April. This increase in employment demonstrates the resilience of Wyoming’s workforce and the recovering state of the economy.

County-Level Unemployment Rates

In line with seasonal patterns, most county unemployment rates followed a downward trend from March to April. The arrival of warmer weather typically leads to increased job opportunities, particularly in sectors such as construction and professional & business services. Notable decreases in unemployment rates were observed in Washakie (5.7% to 3.9%), Big Horn (4.8% to 3.6%), and Sweetwater (5.0% to 3.8%) counties. However, Teton County experienced a rise in unemployment from 2.7% to 3.9% as the ski season concluded.

Yearly Comparison

When comparing unemployment rates from April 2022 to April 2023, modest increases were observed in 11 counties, while nine counties experienced decreases and three remained unchanged. The most significant increases occurred in Niobrara (2.0% to 2.8%) and Goshen (2.4% to 2.8%) counties. On the other hand, unemployment rates decreased in Weston (2.8% to 2.2%), Converse (3.1% to 2.6%), and Teton (4.4% to 3.9%) counties.

Unemployment Rates by County

In April, Weston County boasted the lowest unemployment rate at 2.2%, followed closely by Albany, Converse, and Crook counties, each with a rate of 2.6%. The highest unemployment rates were recorded in Sublette, Teton, and Washakie counties, each at 3.9%.

Overall Employment Growth

Total non-farm employment in Wyoming, measured by place of work and not seasonally adjusted, showed a positive trend. The number of jobs increased from 279,400 in April 2022 to 285,300 in April 2023, representing a growth of 5,900 jobs (2.1%).

Wyoming’s April unemployment report indicates encouraging progress, with the state’s unemployment rate declining to 3.5%. The increase in employment and the typical seasonal decreases in county-level unemployment rates demonstrate positive trends in Wyoming’s labor market. While challenges and variations persist across different counties, the overall growth in nonfarm employment is a promising sign for the state’s economy. As the data for May is set to be released in June, continued monitoring of Wyoming’s labor market will provide valuable insights into its ongoing recovery.