CHEYENNE, Wyo. — Wyoming’s economy reported slow growth in June 2024, as shown by the Wyoming Economic Health Index and the Cheyenne Economic Health Index, according to the Wyoming Economic Analysis Division.
The Wyoming Economic Health Index reached 107.6 in June 2024, up slightly from 107.3 in June 2023. This increase marks six consecutive months of year-over-year growth. However, the pace of growth has slowed. Meanwhile, the Cheyenne Economic Health Index held steady at 108.7 in June 2024, matching the value reported in June 2023, indicating stability in Cheyenne.
Employment and Unemployment Trends
Statewide, total nonfarm payroll jobs increased by 2,300, reaching 293,200 in June 2024, reflecting a 0.8% growth. Wyoming’s unemployment rate was 2.9%, slightly higher than 2.8% in June 2023. Despite this, Wyoming’s unemployment rate remained lower than the national rate of 4.1%.
In Cheyenne, total nonfarm payroll jobs rose to 49,000 in June 2024, an increase of 900 jobs or 1.9% compared to the previous year. The unemployment rate in Laramie County was 3.2%, up from 2.9% in June 2023.
Tax Collections and Housing
Wyoming’s sales and use tax collections from the mining sector decreased by 16.3% in June 2024 compared to the same period in 2023, with the state collecting $8.7 million. In contrast, lodging tax collections increased by 30.5%, totaling $6.0 million for the month.
Laramie County reported $14.6 million in sales and use tax collections for June 2024, an increase of 7.4% from June 2023. The average home value in Laramie County rose to $373,400 in June 2024, a 1.6% increase from the previous year.
The Wyoming and Cheyenne Economic Indicators reports are available on the Wyoming Economic Analysis Division’s website and are also attached below.
