Wyoming Economy: The Good and Not So Good
The state’s most recent economic indicators show some good news and some not so good news. Jim Robinson, Senior Economist With the state’s Economic Analysis Division, says natural gas prices at the Opal hub averaged $2.24 per mcf in may. Robinson says while prices are below what experts had predicted, they are up from a low price of about $1.85 per mcf in April.
Robinson says while natural gas prices are beginning to recover, it’s unlikely they will reach $3.00 per mcf until December. Robinson says the south Porcupine coal lease sale in May netted the state $218.6 million.
Robinson says unemployment rates for most counties in April were better than a year ago and Wyoming added 2,300 jobs in April for a 0.8 percent gain over April of 2011. Robinson says the retail trade sector led the way with 1,000 jobs.
On the not so good side, Airport passenger traffic still lags last year by 2.5 percent through April. Cheyenne’s home prices recorded a slight decline in the first quarter of 2012.