Report: Wyoming Economic Health on the Rise, Still Lower than Pre-COVID
The Wyoming Economic Analysis Division released a report indicating that Wyoming’s economic health is slowly on the rise, especially since its 15-year low in April, but the index is still far below what it was before the COVID-19 pandemic.
According to the Wyoming Economic Health Index (WEHI), Wyoming has an index value of 99.9, as of September 2020.
That's the highest it has been in the past 5 months, rising from 99.4 in August 2020.
But it is still significantly lower than what it was in September 2019, when it had a value of 107.2. In the economic health index, 100 is considered the mean.
Wyoming's unemployment rate declined from the August mark of 6.6% to 6.1%.
While this is still higher than what it was at this time last year (3.7% in September 2019), it is lower than the national average of 7.9%.
Revenue from the mining sector continues to decline, however. Sales and use tax from the mining sector was $3.6 million in September 2020, down $0.1 million from August and $7.9 million less than September of last year.
Wyoming’s collection of the 4% sales and use tax from lodging was $3.2 million as of September 2020, which is 29% less than it was at this time last year.