A gas plant near Casper
Wyoming s Economic Analysis Division says the first quarter of 2021 included major losses in jobs and revenue from the previous year. Places like Niobrara, Converse and Campbell counties experienced huge drops in sales and use taxes.
The Division s Chief Economist Weinlin Liu noted that the first quarter of 2021 saw almost 16,000 fewer jobs, mostly in the energy industry, which led to an overall decline of sales and use taxes by almost 5 percent. However, non-mineral economies, especially Teton and Albany counties, gained roughly 30 percent gains from the previous year. Liu said that was due to federal stimulus money which also drove up personal income by more than 11 percent.
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Wyoming s mining employment drops by more than 25% in one year
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Sales in Wyoming Slow to Recover from Pandemic
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Dr. Wenlin Liu, Chief Economist with the state of Wyoming, Economic Analysis Division, said: As the resurgence of the virus diminished, Wyoming’s economy continued to rebound in the first quarter, similar to the U.S. average. However, the slow recovery in the state s oil & gas drilling activities is still dragging the pace of Wyoming s overall economic improvement. Approximately 15,730 or 5.6% less payroll jobs were recorded in the first quarter of 2021 compared to the prior year, led by -5,070, or -25.7%, in the mineral extraction industry.
Across the state, there is an average 4.9% decrease in taxable sales from the first quarter of 2020 to the same time period in 2021.