Wyoming Second Worst State for Filling Job Openings
According to a report by WalletHub, Wyoming ranks second for having the highest combined job opening rate over the past month and year at 8.9% and 7.98% respectively.
Alaska is the only state with a higher job opening rate, meaning how quickly job openings are being filled, at 11.9% in the past month and 9.78% over the past year, with Montana right behind Wyoming in third with a rate of 8.3% for the past month and 8.18% for the past year.
New York meanwhile sits at the bottom of the list with a rate of 5% in the past month and 5.78% in the past year, followed by the District of Columbia and Washington state.
While Wyoming may have a high job opening rate, the unemployment rate has still been decreasing over the past year, down to 3.1% in August 2022, compared to 4.3% in August 2021, according to data from the Wyoming Department of Analysis and Information.
However, the labor force participation rate in Wyoming, which measures the number of people actively job-hunting and those currently employed, currently sits at 63.2%, the lowest number since at least 1976, compared to 66% in March 2020.
Most of the increase in jobs from August 2021 to August 2022 in Wyoming is due to the leisure and hospitality industry, up 2,500, followed by professional and business services at 1,800, and mining at 1,400 jobs.
The only jobs over the past year that decreased were those in state and local governments at 700 and transportation and utilities at 200.
The information and financial activities sectors saw no change in jobs from August 2021 to August 2022.
For personal income, Wyoming saw a lower increase, at 4.8%, compared to other states in the Rocky Mountain region, at 6.3%, and across the U.S. as a whole at 5.8% for the second quarter of 2022 compared to the previous quarter.
In the fourth quarter of 2021 compared to the previous quarter, Wyoming had an increase of 10%, higher than the U.S. as a whole at 3.6%, but still lower than the Rocky Mountain region at 11.1%.