Wyoming's 2020 mining sector sales tax collections down $48.3M or 43.3% from five-year average - Casper, WY Oil City News
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Wyoming’s 2020 mining sector sales tax collections down $48.3M or 43.3% from five-year average

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CASPER, Wyo. — Wyoming saw total sales and use tax collections from the mining sector reach $63.4 million in calendar year 2020, according to the Feb. 2021 Wyoming Economic Indicators report from the state’s Economic Analysis Division.

That is $48.3 million less (-43.3%) than the five-year average, according to the report.

The state saw $4.8 million in 4% sales and use tax collections from the mining sector in Dec. 2020. That was an increase of $1.5 million from Nov. 2020, but $5.6 million less than what was collected in Dec. 2019.

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4% sales and use tax collections from the lodging sector was $1.4 million in Dec. 2020, which the report states was 9% less than in Dec. 2019.

“Nine of the last ten months have experienced year-over-year declines in collections,” the report states. “These decreases in collections from lodging are not surprising because of the stay at home orders at the beginning of the Covid-19 pandemic and lack of travel due to virus concerns.”

Wyoming’s unemployment rate fell to 4.8% in Dec. 2020, the eighth consecutive month the unemployment rate has decreased in the state. The Economic Anaylsis Division notes that Wyoming’s unemployment rate is lower than the national rate of 6.7%.

“Total non-farm payroll jobs in Wyoming numbered 276,400 in December 2020, higher than April 2020 by 14,000 jobs, but lower than December 2019 by 12,300 jobs,” the report adds.

The report also provides a Wyoming Economic Health Index score for the state based on the above economic factors. The score stood at 102.8 in Dec. 2020 which was higher than the Nov. 2020 value of 100.8 “but significantly lower than the December 2019 value of 106.8.”

The score has increased in seven of the last eight months “after a huge
drop in April, reflecting the ongoing recovery from the Covid-19 recession.”

The full Feb. 2021 Wyoming Economic Indicators report is available online.