CHEYENNE, Wyo. — Wyoming’s personal income grew in the first three months of 2017, the first increase since mid-2015.
Personal income grew 1.1 percent in the first quarter of 2017 over the last quarter of 2016, the Wyoming Tribune Eagle reported Saturday (http://bit.ly/2ubnoit).
The increase doesn’t necessarily mean Wyoming’s economic problems are over, but it does signal that the state is recovering, state economist Jim Robinson said.
“We’re coming off five quarters in a row where the news wasn’t very good,” Robinson said. “We’re starting to climb out of it now, and that’s good news for Wyoming.”
It’s the first time Wyoming’s personal income has increased since the July-to-September period of 2015. Personal income includes wages, dividends and interest and government benefits such as Social Security.
Nationwide, personal income grew by 1 percent in the first quarter, the U.S. Bureau of Economic Analysis said. The Rocky Mountain region, which includes Colorado, Idaho, Montana, Utah and Wyoming, grew 1.1 percent.
Within the region, Idaho was first, with 1.6 percent growth, followed by Utah, 1.2 percent; Montana and Wyoming at 1.1 percent; and Colorado at 0.9 percent.
Wyoming personal income grew in 19 of the 24 industries tracked by the Bureau of Economic Analysis. The biggest gain was 2.9 percent in the mining sector, which includes oil and gas. Construction was next, gaining 2.8 percent.
Information from: Wyoming Tribune Eagle, http://www.wyomingnews.com