Wyoming’s economy sends mixed signals in January

CASPER, Wyo. — The January 2025 edition of the Wyoming Insight, a report on energy and business indicators, reveals a mixed economic outlook for the state.

While there are some positive developments, challenges persist in key areas such as the mining sector, cost of living and unemployment.

Sales and Use Tax Collections

Total sales and use tax collections increased by 5.4% in January 2025 compared to January 2024. However, collections from the mining sector declined again, down 17.2% year-over-year.

That continues a trend of year-over-year declines in mining sector tax collections for the past nine months.

Employment

Total employment in Wyoming increased by 1.7% in December 2024 compared to December 2023. That’s the largest year-over-year increase in employment in the past 12 months.

The private education and health sectors experienced the most significant growth, adding 1,300 jobs.

Energy

Natural gas prices rose in January 2025. The Henry Hub natural gas price averaged $4.14 per million British thermal units, up $1.12 from December 2024 and $0.92 from January 2024.

The West Texas Intermediate crude oil price averaged $75.74 per barrel, an 8% increase from December 2024 and a 2.1% increase from January 2024.

Other Indicators

Wyoming’s cost of living increased by 3.9% in the second quarter of 2024, compared to 3% for the U.S.

The state’s unemployment rate was 3.5% in December 2024, compared to 4.1% for the U.S.

Agricultural prices also increased in December 2024.

The report is attached below: