Oil and Energy Industries Fueling Wyoming Population Growth

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Wyoming-also known as the Cowboy State-is the least populated state in the United States. Despite this, living in Wyoming is anything but lonesome. It has a friendly, welcoming atmosphere, no matter whether you live in one of the larger cities or on a rural ranch. According to data from the Census Bureau, the population in 2012 was 563,626. This is an increase of 14 percent from the year 2000. And the Wyoming population growth is expected to continue over the next few years.

Sources of Growth

The high rate of Wyoming population growth is largely in part due to prosperous industries such as coal, natural gas and oil. The state has one of the lowest unemployment rates in the country. As of December 2012, it was a mere 4.9 percent compared to the national rate of 7.8 percent. "People tend to move to areas where economies are viable," said a senior economist with the Wyoming Economic Analysis Division, "which is particularly true for Wyoming." Once they move to Wyoming, people typically stay there for many years because they have good job security, and as the industries expand, they will have more chances for job promotions as well.

Projected Population Growth

The uptrend in Wyoming population growth is expected to continue over the next few years. The demand for oil remains high and the energy market is booming. With the national economy rebounding, Wyoming's is expected to be even more favorable than the national average. Sublette, Campbell and Lincoln counties are expected to see the highest population increase, with Johnson, Crook and Teton counties not far behind.

To learn more about the many property developments available in Wyoming, call the Brooks Companies at 877-468-9802 today.


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