University of Wyoming Extension Releases New Publication on Personal Income Trends in Wyoming
A bulletin recently published by the University of Wyoming Extension provides a valuable new resource for public officials, community planners, local business owners, and citizens interested in personal income trends in Wyoming.
Titled “Assessing 2001-2018 Total Personal Income and Its Components for the Rocky Mountain Region, Wyoming, and Its Counties,” the publication provides data-based insight into the strengths, opportunities, and challenges facing local economies. National and regional data is presented to provide context for state- and county-level trends.
Spanning nearly two decades, the study offers a detailed report on how previous economic shocks, such as the 2008 recession and swings in energy prices, affected personal income, notes co-author Anders Van Sandt, assistant professor in UW’s Department of Agricultural and Applied Economics.
“This is a big time for change, not only for families and businesses, but also for local government and community developers,” he comments.
Residents may wish to examine wage and salary fluctuations in their county. Local business owners may use the bulletin to better understand income and demand trends, while public officials may be interested in diving into income inequality and commuting patterns.
Building successful economic development programs depends on a thorough understanding of a community’s economy, says co-author Duane Williams, community development specialist in the Department of Agricultural and Applied Economics.
“This understanding moves beyond local perceptions by engaging in economic and demographic data analysis to help develop a picture of the community’s economic base, diversity and competitiveness,” he explains.
For a free downloadable copy of the new publication, CLICK HERE.
About the University of Wyoming Extension
Since 1914, the University of Wyoming Extension has provided lifelong learning opportunities to Wyoming citizens across the state. With roots in agricultural education, the UW Extension supports rural communities facing contemporary challenges and changes. The UW Extension brings the University’s resources to each of the state’s 23 counties and the Wind River Indian Reservation. To learn more about the UW Extension, visit www.uwyo.edu/uwe or call (307) 766-5124.