Wyoming's economy continues to surge

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The contrast is striking.

While the U.S. economy plumbs a recession of unknown depth, Wyoming keeps humming along.

In October, the state's seasonally adjusted unemployment rate stood at 3.3 percent, unchanged from September and only slightly higher than the 2.9 percent rate posted a year earlier. The state was tied with South Dakota for the nation's lowest unemployment.

At the same time, the U.S. rate in October hit 6.5 percent, the highest level in 14 years.

Wyoming also continued to add jobs at the fastest pace in the nation at 3.2 percent, up by 9,500 jobs. Between October 2007 and October 2008, the U.S. lost 1.2 million jobs.

David Bullard, senior economist for the Research and Planning Section of the Wyoming Department of Employment, noted there are no signs of an economic downturn in the state. While energy prices have declined recently, much of the development activity is determined by long-term price expectations.

Natural resources and mining, including oil and gas, added 1,700 jobs over the year, or an increase of 6.1 percent.

But Bullard said the expansion went beyond the energy industry: "We are seeing good job growth almost everywhere."

Some other gainers were government, including schools, up 2,600 jobs, or 3.8 percent; educational and health services, up 1,100 jobs, or 4.3 percent; and leisure and hospitality, up 1,200 jobs, or 3.7 percent.

Sublette County posted the lowest unemployment rate at 1.5 percent, followed by Campbell (1.8 percent), Sweetwater (2.2 percent) and Albany counties (2.2 percent).

The highest rate was in Platte County at 3.7 percent, followed by Niobrara County at 3.6 percent.

The October unemployment rate in Natrona County stood at 2.6 percent, with total employment of 39,290.

Business Editor Tom Mast can be reached at tom.mast@trib.com, or call 307-266-0574.

County unemployment rates

Preliminary figures; seasonally unadjusted

October 2008 2007

Albany 2.2 1.8

Big Horn 3.3 3.1

Campbell 1.8 1.7

Carbon 3.1 2.4

Converse 2.7 2.5

Crook 2.9 2.3

Fremont 3.4 3.0

Goshen 3.1 2.9

Hot Springs 3.2 2.6

Johnson 3.3 2.9

Laramie 3.4 3.0

Lincoln 2.7 1.9

Natrona 2.6 2.2

Niobrara 3.6 3.7

Park 2.9 2.7

Platte 3.7 3.4

Sheridan 2.6 2.3

Sublette 1.5 1.1

Sweetwater 2.2 1.9

Teton 2.4 1.9

Uinta 2.8 2.2

Washakie 2.7 2.5

Weston 3.2 2.8

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