State Report Shows Wyoming Economy Relatively Strong

The State of Wyoming’s Economic Analysis Division has released their December 2023 issue of the Wyoming MACRO Report, which shows Wyoming’s economy in relatively strong shape.

The MACRO Report is a quarterly publication that consists of charts focusing on employment, energy, state revenues, and other indicators providing an overview of Wyoming’s economy.

Some of the highlights from the December quarterly issue show total jobs in the state are up 2.9% (+8,400) in the month of November 2023 over 2022.

West Texas Intermediate oil prices in December of 2023 averaged $71.90/barrel,$4.54 less than December of 2022.

Henry Hub natural gas prices averaged $2.52/MMBtu (one million British thermal units) in December of 2023, down $2.97 from 2022.

Wyoming’s real gross domestic product (GDP) in the third quarter of 2023 increased by 5.7% from the previous quarter. This increase was slightly less than the Rocky Mountain region (+5.9%), but more than the United States as a whole (+4.9%).

State-wide sales & use tax collections through the first six months of fiscal year 2024 (July-December) are 10.9% higher than they were in fiscal year 2023.

State-wide severance tax collections through the first six months of fiscal year 2024 (July-December) are 32.2% lower than they were in fiscal year 2023.

The December 2023 issue of the Wyoming MACRO Report is available at the State of Wyoming’s Economic Analysis Division website, and we have provided a link here:

http://eadiv.state.wy.us/