CHEYENNE (WNE) — Both sales tax and mining collections in the Cowboy State decreased over the last year, according to Wyoming Insight, which serves as an energy index and business indicators report for the state.

Total sales and use tax collections in October totaled $91.9 million, $1.9 million (-2.0%) less than October last year. 

“Sales & use tax collections have declined year-over-year in five of the last eight months,” said Dylan Bainer, principal economist for Wyoming’s Economic Analysis Division, in a news release. 

Collections from the mining sector saw the largest decrease, down 30.1% year-over-year. This is the third consecutive month that collections from the mining sector have declined by more than 25% year-over-year.

However, Wyoming also saw an increase in jobs. Employment in Wyoming totaled 294,800 jobs in September, 2,900 (+1.0%) more than September last year. 

“Total employment continues to increase year-over-year, but at a slowing rate,” said Bainer. 

Private education and health added the most jobs in September, up 1,000 jobs compared to September 2023.

According to this month’s issue of Insight, natural gas prices are still hovering around $2/ MMBtu and oil prices are increasing. The October 2024 natural gas price at the Opal Hub averaged $2.30 per million British thermal units (MMBtu), $0.44 more than last month. The Henry Hub natural gas price averaged $2.20/MMBtu in October, $0.08 less than last month.

The West Texas Intermediate monthly average price for crude oil was $71.99 per bbl. in October, 16.1% less than a year ago. 

Average active oil rigs were 12 in October, and the conventional gas rig count was four.

The October 2024 issue of Wyoming Insight is available at the state of Wyoming’s Economic Analysis Division website, ai.wyo.gov/divisions/economic-analysis. For more information, visit tinyurl.com/Wyo-Insight-10-24.