After several major coal-producing companies announced shutdowns and layoffs in recent months, Wyoming’s unemployment rate, at 5.7 percent, jumped 1.4 percentage points over the past year, a larger increase than any other state.
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It’s still one of the lowest rates in the nation, tied with North Dakota behind South Dakota’s 2.8% and New Hampshire’s 2.9%.
And over the a year ago, the Show-Me State has gained 21,500 in employment, or a growth rate of 0.8 percent.
“While the unemployment rate was up slightly, total nonfarm employment for July was the highest July on record”, said state Labor Commissioner John Albin.
Local employers cut 10,000 nonfarm jobs in July, though total jobs were up 2.6% year-over-year to 1,583,000.
The not seasonally adjusted rate for the State was 3.4 percent in July, dropping from 3.9 percent in June.
The unemployment rate for June was 4.2 percent. The June estimate, which originally showed a gain of 2,300 jobs, has been revised down to a gain of 900 jobs. That’s higher than the national unemployment rate of 4.9 percent. The increase would have been even larger absent a net decline of 4,100 people in the state’s labor force over the same period. Over the year, Professional, Scientific and Business Services added 17,500 (+3.3%) jobs.
Additionally, the number of unemployed has increased year-over-year by 11,000 from 267,000 workers.
Private-sector employment has fared somewhat better, and has regained 96 percent of the jobs lost, or 107,200 out of 111,700. July employment rose in 15 states, decreased in Kansas, and was essentially unchanged in 34 states and the District of Columbia, according to BLS figures. Employment in goods-producing industries increased 2,600. While the rate of job losses in the oil and gas industry slowed, the energy sector’s drawback still chilled statewide jobs numbers.
Financial activities and professional and Business services had the biggest drop at 1,600. Construction also gained during the month.
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Labor force statistics, including the unemployment rate, are based on estimates from the Current Population Survey of households. Mining and logging lost 1,200 jobs, attributed to recent layoffs and closures. The July figure is preliminary.
