GILLETTE, Wyo. — The Wyoming Economic Health Index has shown its first year-over-year decline since April 2021, according to the Economic Analysis Division of Wyoming’s Department of Administration & Information.
The WEHI, which captures overall labor market activity and economic activity related to mineral production and tourism, reported an index value of 106.5 in September 2024, slightly lower than the September 2023 value of 106.7.
Despite the slight decline, Wyoming’s unemployment rate remains lower than the national average, at 3.1% compared to 4.1% in September 2024. However, this is the first time the state’s unemployment rate has been above 3.0% since February 2023.
Total non-farm payroll jobs in Wyoming increased by 2,900 year-over-year, reaching 294,800 in September 2024.
The mining sector experienced a significant decrease in sales and use tax collections, down 30.1% year-over-year. Conversely, the lodging sector saw a 23.7% increase in sales and use tax collections, indicating growth in tourism activity.
The WEHI measures the state’s economic health, and its recent decline, coupled with the slight increase in unemployment, suggests a potential slowdown in Wyoming’s economy.
The report is attached below:
NOTE: AI tools assisted in the publication of this report.
