Wyoming's Personal Income Increases

Sep 25, 2019

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Wyoming's personal income has increased by 6 percent in the second quarter of this year. The increase is higher than both the region and the rest of the country.

Economist Jim Robinson with the Wyoming Economic Analysis Division said agriculture and mining, which includes oil and gas, saw the biggest increases. He admits it was a slight surprise to see Wyoming ahead of such states as Colorado and Montana.

"Part of that though has to do with maybe those economies in those other states are starting to slow down a little bit, and that's giving room for Wyoming to maybe catch up a little," said Robinson.

Robinson added that Wyoming's agriculture income, which increased slightly, was able to avoid some of the problems faced by other states.

"Compared to say the states in the Midwest, the tariffs that were in place on the farm products just didn't have the impact on Wyoming as it did in say Nebraska and Iowa, so there wasn't much to lose there. I think for the most part, the farm income in Wyoming just kind of held up," said Robinson. The report noted that Wyoming construction income fell by $7 million.

While the numbers are positive, Robinson said he expects a different result when third quarter numbers are out, which should reflect the impact that the coal downturn has had on salaries.