County unemployment rate remains high at 5.6 percent

The Hot Springs County unemployment rate for the month of February was 5.6 percent, only .1 percent down from January’s percentage of 5.7. February 2015, however, had an unemployment rate of only 4.4 percent.

The statewide decline in the oil, coal and natural gas industry is affecting a number of companies. One company in Hot Springs County tied to the oil industry said they had laid-off two individuals recently, while another said they had no layoffs. Other local companies in the oil industry were contacted and may have contributed to the rise of the unemployment rate, but they declined to comment. However, information obtained from former employees of oilfield companies in Hot Springs County indicated there have been several layoffs. Part of the rise in HSC unemployment may include county residents that were employed elsewhere.

The Wyoming state unemployment rate has risen to 5 percent in February 2016. According to The Research & Planning section of the Wyoming Department of Workforce Services, the state unemployment rate increased from 4.7 percent in January to 5 percent in February.

In Hot Springs County, the unemployment rate has not declined between January and February, but there is no significant improvement either. The labor force for February was 2,339 and 2,340 in January. There were 2,208 employed individuals in February and 2,207 in January. The number of unemployed individuals for February was 131 compared to 133 in January.

In comparison to February 2015’s labor force of 2,383, the number of employed individuals at 2,277 and the number of unemployed individuals at 106, the decline in employment and the rise of the unemployment rate is a hit to the local economy and the livelihood of residents.

The Independent Record would like to know your story. If you are a county resident, in any industry, that has recently been laid off due to declining business, please contact us at 864-2328.