Report: Casper sees slight economic dip, rising home prices

CASPER, Wyo. — Casper’s new year started off with increased unemployment and a drop in sales tax revenue, according to the latest monthly Wyoming Economic Analysis Division report, which also showed home prices surged 6.6% compared to last year.

The Casper Economic Health Index registered a value of 105.6 in January 2025, the latest month for which data is available. That’s a marginal decrease compared to the value of 105.8 in January 2024.

The CaEHI also showed year-over-year declines in November and December 2024, suggesting a slight contraction in Casper’s economic activity.

A significant factor in Casper’s January value is the 17% year-over-year decrease in total sales and use tax collections for Natrona County. In January 2025, Natrona County’s sales and use tax revenue totaled $7.3 million, down about $1.2 million from the same period last year.

Natrona County’s non-seasonally adjusted unemployment rate matched the statewide rate at 4.3% in January 2025, an increase from 3.8% in January 2024. That may be due in part to more people entering the labor market as Natrona County’s total nonfarm payroll employment reached 40,600 in January 2025. That marks a 1% increase, up about 400 jobs, from the previous year. That’s the highest total employment since December 2015, according to the Economic Analysis Division’s report.

Natrona County’s average home value continued to rise in January, up to $298,200. That’s a 6.6% appreciation compared to January 2024.

Wyoming’s Statewide Economic Trends

The Economic Analysis Division’s Wyoming Economic Health Index showed a value of 106.3 in January 2025, down from 107.1 in January 2024. The WEHI has shown year-over-year declines for the last six months.

The seasonally adjusted unemployment rate for Wyoming was 3.6% in January 2025, higher than the 2.8% in January 2024 but below the national rate of 4%.

Total nonfarm payroll employment in Wyoming reached 295,700 in January 2025, an increase of 0.9%, or about 2,600 jobs, from the previous year.

A sector-specific change affecting the state’s score is the 19.9% year-over-year decrease in sales and use tax collections from the mining sector in January 2025, amounting to $7 million, a $1.5 million reduction. However, sales and use tax collections from lodging went up 3.8% in January 2025, reaching $2.3 million.

The reports are attached below: