Latest State Economic Report Mostly Positive

The principal economist with the state Economic Analysis Division says the latest survey of Wyoming economic conditions has more good news than bad news.

Jim Robinson says among the good news is the fact that overall statewide Sale and Use Tax collections are up by13.2 percent for Fiscal Year 2015 compared to the same time in FY 2014.

Campbell County shows the biggest increase at $13 million more than last year, with Laramie County second with a $7.3 million increase. The Sales and Use tax collections also reflect an increase in overall business transactions, which shows an overall  growing economy

Robinson says there is more good news in the fact that the state added 2,400 new jobs in November. The private sector accounted for 2,300 of those jobs, representing an increase of 1 percent. Robinson says November marked the 19th consecutive month the state has added jobs.

He says one concern is the drop in crude oil prices, which will result in less money in royalty payments to the state. But even with the dropping prices, he says applications to drill for oil were still up by 93 percent in November compared to a year earlier. Robinson says oil prices in general are a mixed factor

While the state may get less in royalty payments, he says the good news is that Wyoming residents will have a little more money in their pockets.

Robinson says the other positive effect from low oil and gas prices will likely be an increase in tourism next spring and summer.