Wyoming economy

Wyoming economic growth

Economic growth of the state of Wyoming is tracked by the GDP growth indicator. However, GDP is a lagging indicator since it reports what economic growth was in the previous quarter. MacroVar aims to predict what economic growth will be in six to twelve months. Consequently, MacroVar tracks the following leading economic indicators: Wyoming Leading economic index, Initial jobless claims, Building permits and Real Estate prices. Current economic growth conditions of the state of Wyoming are monitored using Wyoming coincident economic activity index.

Indicator Actual Previous M/M% Y/Y% Trend ZS5Y Trend Update
Leading Index Wyoming 1 1.02 -0.0196078 -0.453552 -1.0 0.416667 2020-02-29
Coincident Economic Activity Index for Wyoming 114.35 114.36 -0.0000874432 0.0193439 1.0 0.433333 2021-04-01
Initial Jobless Claims Wyoming 416 568 -0.267606 -0.515716 -1.0 0.2 2021-05-29
Build Permits Wyoming 195.282 201.285 -0.0298234 0.156534 1.0 0.633333 2021-04-01
Total Gross Domestic Product Wyoming 37053.3 35999.5 0.0292726 -0.0254722 -1.0 0 2020-10-01
Zillow Wyoming all Prices 268991 267802 0.00443985 0.0417407 1.0 0.766667 2021-04-30
Unemployment Rate in Wyoming 5.4 5.3 0.0188679 -0.0181818 -1.0 0.583333 2021-04-01

Wyoming Unemployment

Wyoming unemployment is a very important economic indicator affecting the state’s economic condition. MacroVar monitors initial jobless claims which is reported every week and is an important indicator of current economic conditions. Wyoming unemployment is reported later in the month.

Indicator Actual Previous M/M% Y/Y% Trend ZS5Y Trend Update

Wyoming Real Estate

Construction activity is a very important economic indicator for the economy of Wyoming. MacroVar monitors the following indicators: Wyoming building permits, real estate prices, real estate rent and the house price index. Building permits is a leading economic indicator measuring the number of permits required to start construction. Hence, it predicts the construction activity in the state for the following year. When economic growth is strong and financial conditions are normal, developers are optimistic about future economic growth and they apply for new building permits to begin new construction projects and vice-versa.

Indicator Actual Previous M/M% Y/Y% Trend ZS5Y Trend Update
Zillow Wyoming all Prices 268991 267802 0.00443985 0.0417407 1.0 0.766667 2021-04-30
Build Permits Wyoming 195.282 201.285 -0.0298234 0.156534 1.0 0.633333 2021-04-01
Leading Index Wyoming 1 1.02 -0.0196078 -0.453552 -1.0 0.416667 2020-02-29
All-Transactions House Price Index for Wyoming 346.93 341.69 1.53 14.54 UP 100 2021-01-13
Coincident Economic Activity Index for Wyoming 114.35 114.36 -0.0000874432 0.0193439 1.0 0.433333 2021-04-01

Wyoming Cost of living

Wyoming cost of living is monitored using the following indicators: Real per capita personal income, Real trade-weighted value of the dollar, Wyoming Zillow rent levels, Regional price parities all items

Indicator Actual Previous M/M% Y/Y% Trend ZS5Y Trend Update
Real Per Capita Personal Income for Wyoming 61266 60984 0.46 0 UP 0 2021-01-13
Real Trade-Weighted Value of the dollar for Wyoming 112.103 110.381 0.0156005 -0.0493784 -1.0 0.15 2021-03-01
Regional Price Parities: All Items for Wyoming 92.8 92.3 0.54 0 Down 0 2021-01-13

Wyoming Economic news

MacroVar monitors news and economic developments related to the Wyoming economy.

Economic Indicators Overview

  • Leading Index: The leading index for Wyoming state predicts the six-month growth rate of the state’s coincident index. The indicator monitors the following variables leading the economy: state-level housing permits (1 to 4 units), state initial unemployment insurance claims, delivery times for Institute for Supply Management (ISM) manufacturing survey, and the interest rate spread between the 10-year Treasury bond and the 3-month Treasury bill.
  • Coincident Index: The coincident economic activity index includes the following indicators: nonfarm payroll employment, the unemployment rate, average hours worked in manufacturing and wages and salaries. The trend for Wyoming state index is set to match the trend for GDP growth.
  • Initial Jobless claims: An initial claim is a claim filed by an unemployed individual after a separation from an employer. The claim requests a determination of basic eligibility for the Unemployment insurance program.
  • Building Permits: Wyoming building permits represents the total number of building permits for all structure types.
  • GDP: The total value of goods produced and services provided in Wyoming during one year.
  • Unemployment Rate: Wyoming unemployment rate is the proportion of the labor force that is not currently employed but could be.
  • Real Estate prices (Zillow): MacroVar monitors real estate prices across Wyoming using current prices determined by real estate activity tracked by Zillow.
  • House Price Index: Wyoming House price index summarizes real estate activity using estimated sales prices and appraisal data.
  • Real trade-weighted value of the dollar: This index calculates the inflation-adjusted value of the US dollar against the currencies of countries to which Wyoming exports. The real exchange rates are aggregated across countries for Wyoming using the annual average export share to the country.
  • Regional price parities: Regional price parities (RPPs) are regional price levels expressed as a percentage of the overall national price level for a given year. The price levels are determined by the average prices paid by consumers for the mix of goods and services consumed in the state of Wyoming. Taking the ratio of RPPs shows the difference in price levels across regions.

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