Oil prices fall, employment up in latest Insight report
CHEYENNE (WNE) — Wyoming has seen an increase in jobs of late, as well as sales and use tax collections, according to the Wyoming Insight. However, the energy index and business indicators report also states that oil prices have fallen and mining collections continue to fall.
Employment in Wyoming totaled 297,100 jobs in April 2025, 3,900 more (+1.3%) than April 2024.
“Total employment continues to grow, but at a moderating rate,” Dylan Bainer, principal economist for Wyoming’s Economic Analysis Division, said in a news release.
The construction sector added the most jobs in April, up 1,400 jobs year-over-year while the federal government sector saw the largest job loss, down 300 jobs.
Total sales and use tax collections increased year-over-year. Total sales and use tax collections in May summed to $70 million, $0.6 million more (+0.9%) than May last year, the Insight reported.
“Sales & use tax collections in May improved year-over-year for the first time since January of this year,” according to Bainer.
The financial activities sector, where taxes are mostly from automotive, machinery and equipment leasing and rental, saw the largest increase, up 57.7% year-over-year.
However, collections from the mining sector continue to decline, down $0.8 million (-9.6%) year-over- year. This is the 13th consecutive month that collections from the mining sector have declined year-over-year.
Meanwhile, oil prices fell to the lowest level since April 2021; Henry Hub monthly average natural gas price stays above $3/MMBtu.
The West Texas Intermediate monthly average price for crude oil was $62.17 per bbl. in May, 2.2% less than a month ago and 22.4% less than May 2024.
Average active oil rigs were 11 in May, and the conventional gas rig count was three. At this time last year, there were 11 oil rigs and one gas rig.
The May 2025 issue of the Wyoming Insight is available at the state of Wyoming’s Economic Analysis Division website, ai.wyo.gov/ divisions/economic-analysis.
This story was published on June 13, 2025.