Report: Wyoming Lost 25,000 Jobs During Pandemic
Recently released data from the Wyoming Department of Administration and Information's Economic Analysis Division shows jobs numbers as the COVID-19 pandemic ravaged the Cowboy State's and US economies.
According to the report, which was published on Monday, Wyoming shed 25,890 jobs in the second quarter of 2020. That's an unemployment rate increase of 8.9%.
It also marks the state's highest unemployment spike since 1987.
While virtually every industry in Wyoming saw job losses, the leisure and hospitality industry was hit the hardest, losing 10,700 jobs.
Respectively, Wyoming's extraction industry took a substantial hit of 53% percent thanks to declining sales including equipment, supplies and service from energy exploration and production activity.
Wyoming's extraction industry also lost about 20% of its jobs in the second quarter as a result of declining energy demand from restrictions on business and travel.
Manufacturing was the only industry that seemed to go through the pandemic unscathed and actually added some jobs.
The average cost of a single-family home increased by 5% compared to the national average of 5.4%.
Meanwhile, building permits for residential construction were 7.9% lower.
Visits to the state's two national parks also took substantial hits with visitors to Yellowstone being down 51% while Grand Teton National Park saw a decline of nearly 40%. Lodging sales were also down by more than half in Teton County and were down 49% statewide.
KEEP READING: See states hit hardest by COVID-19’s impact on tourism