Wyoming Unemployment Falls to 2.8% in January 2024

Mar 12, 2024 | Regional News

Cheyenne, WY (RELEASE) March 12th, 2024 — The Research & Planning section of the Wyoming Department of Workforce Services reported today that the state’s seasonally adjusted unemployment rate fell from 2.9% in December 2023 to 2.8% in January 2024. Wyoming recently completed a comprehensive annual revision of its unemployment data which resulted in the state’s unemployment rate being revised down slightly for most of 2023. Wyoming’s unemployment rate was lower than its January 2023 level of 3.3% and much lower than the current U.S. rate of 3.7%.

From December to January, unemployment rates followed their normal seasonal pattern and increased in every county. Jobless rates usually rise in January as seasonal job losses are seen in many sectors, including construction, retail trade, government, professional & business services, and transportation, warehousing, & utilities. The largest unemployment rate increases occurred in Big Horn (up from 3.4% to 4.8%), Johnson (up from 2.6% to 4.0%), Fremont (up from 3.0% to 4.3%), Park (up from 2.8% to 4.1%), and Sweetwater (up from 2.9% to 4.2%) counties.

From January 2023 to January 2024, unemployment rates fell in 16 counties, remained unchanged in five counties and rose slightly in two counties. The largest decreases occurred in Niobrara (down from 4.8% to 3.5%), Carbon (down from 4.5% to 3.6%), Sweetwater (down from 4.9% to 4.2%), Sheridan (down from 4.1% to 3.5%), and Fremont (down from 4.9% to 4.3%) counties. Unemployment increased very slightly in Goshen (up from 3.3% to 3.4%) and Johnson (up from 3.9% to 4.0%) counties.

Teton County had the lowest unemployment rate in January at 2.2%. It was followed by Weston County at 2.7% and Converse County at 3.1%. The highest unemployment rates were found in Big Horn County at 4.8%, Fremont County at 4.3%, and Sublette County at 4.3%.

Current Employment Statistics (CES) estimates show that total nonfarm employment in Wyoming (not seasonally adjusted and measured by place of work) rose from 281,300 in January 2023 to 285,200 in January 2024, an increase of 3,900 jobs (1.4%).

February unemployment data will be released on March 25, 2024.