CASPER, Wyo. — The Casper Economic Health Index continued its positive growth trend in September 2024, reaching 106.2. This was a notable increase from the 105.5 recorded in September 2023. This is the sixth consecutive month that CaEHI has shown year-over-year growth.
However, Natrona County’s unemployment rate in September 2024 was 2.9%, slightly higher than the 2.6% recorded in September 2023.
Despite the rise in unemployment, other economic indicators showed positive trends. The number of non-farm payroll employees in Natrona County reached 40,800 as of September 2024, an increase of 1.2% from the previous year.
Sales and use tax collections in September 2024 were $10.3 million, an increase of 7.6% compared to September 2023.
Average home prices in Natrona County also showed positive growth, increasing by 4.6% year-on-year in September 2024.
In contrast, the broader Wyoming Economic Health Index declined year-over-year for the first time since April 2021, suggesting a potential slowdown in the state’s economy. WEHI, which considers overall labor market activity and economic activity related to mineral production and tourism, reported an index value of 106.5 for September 2024, which is slightly lower than the September 2023 value of 106.7.
Despite the slight decline, Wyoming’s unemployment rate remains below the national average, at 3.1% compared to 4.1% in September 2024. However, this is the first time since February 2023 that the state’s unemployment rate has exceeded 3.0%.
Nonfarm employment in Wyoming increased by 2,900 from the previous year, reaching 294,800 in September 2024.
The mining sector saw a significant decline in sales and use tax collections, down 30.1% year over year. Conversely, sales and use tax collections in the lodging sector increased by 23.7%, indicating growth in tourism activity.
The report is attached below.
Note: AI tools assisted in publishing this report.