The State of Wyoming Income Charts

This section shows the Wyoming economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Wyoming depicts it has a Median earnings of $52,135 which is the third most median earnings of all other states in the greater Wyoming region. The state with the highest median earnings per worker in the group is Colorado which depicts a median earnings of $57,852 (11.0% larger).

In Figure 2 a more complete view of income is shown which aggregates income from all members in the household and it has a Median household income of $68,002 which is the third most of all other states in the metropolitan area. The state with the highest median household income in the group is Colorado which depicts a median income of $80,184 (17.9% larger).

Figure 5 has the Average number of hours worked in a typical work week during the year, it has a Avg Hours Worked of 39.9 which is more than all other states in the greater Wyoming region. Dividing median annual worker earnings by the average number of hours worked in a year in Figure 6 shows that it has a Avg Hrly Earnings of $25.13 which is the third most of all other states in the greater region. The state with the highest average hourly earnings in the group is Colorado which depicts an average hourly earnings of $28.53 (13.5% larger).

Figure 7 examines the number of self employed people in the Wyoming metro area based on the number of people who reported any self employment income. Wyoming depicts it has a Self Employed of 13.0% which is in the mid range of other states in the metropolitan area. The state with the highest percentage of people self employed in the group is Montana which shows a percentage self employed of 15.5% (19.5% larger).

Turning our attention to Figure 8, the median household income by age group, it has one of the largest proportions of median income-under 25 years at $77,657 of the total and is ranked #3. Only #2 Utah ($83,643), and #1 Colorado ($87,239) are larger. Second, it has one of the largest proportions of median income-25 to 44 years at $81,693 of the total and is ranked #3. Only #2 Colorado ($96,439), and #1 Utah ($99,306) are larger. Third, it has less than most other states in the local area in terms of median income-45 to 64 years at $50,854 of the total.

The next chart (Figure 11) shows the percentage of households that had retirement income over the last 12 months and it has a With Retirement Income of 23.1% which is in the mid point range of other states in the local area. The state with the highest households with retirement income in the group is Arizona which indicates a households with retirement income of 24.0% (only about 4.0% larger).

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and it has one of the largest proportions of overall family income at $87,694 of the total and is ranked #3. Only #2 Utah ($93,872), and #1 Colorado ($104,293) are larger. Second, it has one of the largest proportions of white family income at $65,089 of the total and is ranked #2. The only larger state being Colorado with $70,483. Third, it has the largest proportion of black family income at $66,438 of the total and is ranked #1. Also, it has one of the largest proportions of american indian family income at $105,093 of the total and is ranked #3. Only #2 Arizona ($106,913), and #1 Colorado ($108,619) are larger. In addition, it has the second smallest when ranked by overall family income of all the other states in the surrounding region when sorted by asian family income at $67,656 of the total. Furthermore, it has one of the largest proportions of hawaiian family income at $65,870 of the total and is ranked #3. Only #2 Utah ($66,293), and #1 Colorado ($68,517) are larger.

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Wyoming shows it has the hightest cost of 105.1 for the cost of grocery items group.

The State of Wyoming Labor Force Charts

The next two charts look at very recent, monthly trended employment related performance using data estimated by economists at the Bureau of Labor Statistics (BLS). The BLS tracks unemployment statistics for a large number of areas throughout the country on a month to month basis. However, not every location in the U.S. is tracked by the BLS so the chart will only show the closest location available (which may be the same location.) Figure 14 shows the monthly unemployment rate for the area as well as a comparison to the overall national economy measure for the United States. Note that in March to April 2020, the Covid 19 recession or great recession occurred and affects this metric. . It depicts that from January 2010 to before the disasterous COVID Pandemic the monthly unemployment rate went from 9.8% to 4.4% in March 2020. This represents a decrease in the monthly unemployment rate of 55.1%. Since that time, the monthly unemployment rate has gone to 3.5% This represents a decrease in the monthly unemployment rate of 20.5%. In Figure 15 the monthly labor force participation which are people actively looking for work are also defined as unemployed but do not include people who have given up looking for work. . It shows that from February 2010 to before the Wuhan Coronavirus Pandemic the monthly labor force participation went from 299,182 to 295,194 in January 2020. This represents a decrease in the monthly labor force participation of very little. Since that time, the monthly labor force participation has gone to 291,918 This represents a decrease in the monthly labor force participation of very little.

The next two charts look at the annual unemployment rate/eligible for unemployment benefits and is based on the American Community survey. Figure 16 shows Wyoming depicts it has a Unemployment Rate of 2.7% which is less than most other states in the surrounding region. The state with the highest unemployment rate in the group is Nevada which depicts a rate of 4.5% (64.4% larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. the state of depicts it has a Labor Force Participation of 65.8% which is the third most of all other states in the local area.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Wyoming shows full time employees approximately 3.6 times bigger as the part time employees.

The next employment related data item is shown in Figure 21 which is the percentage of families with only a single earner in the greater Wyoming area. Wyoming depicts it has a Single Earner Families of 26.4% which is the smallest as measured by families with a single earner of all the other states in the surrounding region. The state with the highest families with a single earner in the group is New Mexico which depicts a single earners rate of 31.6% (19.7% larger). The percentage of families with no one working is depicted in Figure 22. Wyoming depicts it has a Families with No One Working of 15.7% which is the second smallest when sorted by families with no one working of all the other states in the area. The state with the highest families with no one working in the group is New Mexico which depicts a families with no worker of 22.9% (46.2% larger).

The State of Wyoming Poverty Charts

The next section details economy analysis about poverty for residents of the Wyoming community. This performance can be enhanced by government programs such as economic opportunity zone to influence manufacturing, job growth, economic opportunity an hopefully lead to economic recovery after the recent Covid 19 recession. In Figure 23 the total number of people earning less than the poverty level are shown. Wyoming indicates it has a Total In Poverty of 60,482 which is in the mid point range of other states in the metro area. The state with the highest total people earning less than the poverty level in the group is Arizona which depicts a total people earning less than the poverty level of 934,911 ( markedly bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Wyoming shows it has a Percent of Population In Poverty of 10.7% which is the second smallest in terms of percent of people earning less than the poverty level of all the other states in the local area. The state with the highest percent of people earning less than the poverty level in the group is New Mexico which shows a percent of people in poverty of 18.3% (70.7% larger).

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Wyoming has the largest proportion of white poverty rate at 37% of the total and is ranked #1. Second, it has the largest proportion of american indian poverty rate at 15% of the total and is ranked #1. Figure 29 looks at only those people who make less than the poverty level of income and breaks down there employment status. Wyoming has the smallest proportion of people who are in poverty and unemployed at 16.8% of the total. Additionally, Figure 30 looks at the percentage of people who receive some form of public assistance including general assistance, temporary assistance or food stamps (i.e. SNAP.) the state of shows it has a Public Assistance Percent of 6.0% which is in the mid range of other states in the metro area. The state with the highest households with public assistance in the group is New Mexico which depicts a households with public assistance of 18.5% (approximately 3.1 times bigger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). the state of shows it has a Gini Index of 44.4% which is the second smallest in order of the gini index of all the other states in the surrounding region.

The State of Wyoming Work Commute Charts

The following set of charts detail a variety of metrics that have economic impact, economic grow factors and economic development metrics in the Wyoming community and has an impact on other factors such as economic growth, population growth, economic recovery, job growth, etc.. Figure 32 shows a high level view of how the population commutes to work (including the percent of people who work from home.) Wyoming has the smallest proportion of people who bicycle or walk to work at 7% of the total. Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Wyoming or elsewhere.) Wyoming has the smallest proportion of people who work from home at 7% of the total.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Wyoming has the largest proportion of people who leave for work between 5am to 530am at 7% of the total and is ranked #1. Second, it has the largest proportion of people who leave for work between 6am to 630am at 11% of the total and is ranked #1. Third, it has the smallest proportion of people who leave for work between 730 am to 8am at 9% of the total. Also, it has the smallest proportion of people who leave for work between 8am to 830am at 4% of the total. In addition, it has the smallest proportion of people who leave for work between 830 am to 9am at 5% of the total. Furthermore, it has the smallest proportion of people who leave for work between 9am to 10am at 2% of the total. Next it has the smallest proportion of people who leave for work between 11am to 12noon at 5% of the total.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Wyoming has the largest proportion of people with commute time of less than 5 minutesutes at 24% of the total and is ranked #1. Second, it has the largest proportion of people with commute time between 5 to 9 minutes at 23% of the total and is ranked #1. Third, it has the smallest proportion of people with commute time between 15 to 19 minutes at 8% of the total. Also, it has the smallest proportion of people with commute time between 20 to 24 minutes at 2% of the total. In addition, it has the smallest proportion of people with commute time between 25 to 29 minutes at 5% of the total. Furthermore, it has the smallest proportion of people with commute time between 30 to 34 minutes at 1% of the total. Next it has the largest proportion of people with commute time between 60 to 89 minutes at 2% of the total and is ranked #1.

The average commute time is shown in Figure 37. the state of depicts it has a Avg Commute Time of 18 which is in the middle range of other states in the metro area. Figure 38 shows the difference between male versus female commuting time. Wyoming depicts average commute time in minutes for men 79.7% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Wyoming has the percentage of no vehicle available the second smallest when sorted by no vehicle available of all the other states in the metro area at 16% of the total. Second, it has the smallest proportion of 1 vehicle available at 36% of the total. Third, it has the largest proportion of 2 vehicles available at 26% of the total and is ranked #1. Also, it has one of the largest proportions of 4 vehicles available at 8% of the total and is ranked #3. Only #2 Idaho (9%), and #1 Utah (9%) are larger. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) the state of depicts it has a Work in city or place where live of 64% which is the highest of all states in the area.

The State of Wyoming Jobs Charts

The next to charts break out the median earnings for major job categories for men and women. Figure 46 shows the median earnings of men for the job categories. the state of depicts it has the hightest median earnings of $91,765 for the earnings-healthcare practitioners and tech occupations classification. Similarly, Figure 47 shows the median earnings of women for the job categories and the state of depicts it has the hightest median earnings of $68,694 for the earnings-healthcare practitioners and tech occupations category. The table in Figure 48, shows Wyoming employment data in terms of job categories and salary data.

The State of Wyoming Self Employment Charts

Figure 49 shows economic activity in terms of the number of people who are self employed in incorporated local business by industry. the state of depicts it has the hightest entrepreneurs of 57% for the self employed management, business, science, and arts businesses group.

Similar to the last chart is Figure 50 which shows the number of people who are self employed but in more detailed industry categories such as manufacturing, retail sales, residential real estate, commercial real estate, health care, exports/imports, and advanced industries, etc. the state of depicts it has the hightest entrepreneurs of 16% for the self employed in professional, scientific, management, administrative services category.

In Figure 51 the average annual self employment/entrepreneur income is shown. the state of depicts it has a Self Employment Income of $39,189 which is the third most average annual self employment income of all other states in the greater Wyoming region. The state with the highest average annual self employment income in the group is Nevada which depicts an average annual self employment income of $46,850 (19.6% larger).

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Wyoming depicts total number of self-employed men 41.5% larger as the total number of self-employed women.