Wyomingites pessimistic about U.S. economy

Wyomingites remained generally unenthusiastic about the country’s economic prospects in the first half of this year, despite marginal improvement in their outlook.

In a survey conducted by the Gallup Organization, Wyoming scored a minus 33 on an economic confidence index, or tied with several states for the 35th spot. In the first half of 2010, Wyoming ranked in the bottom 10.

Signs of economic revival in Wyoming, such as falling unemployment and faster job growth than most of the nation, did not translate into optimism about the U.S. economy overall.

Only 11 percent of Wyoming respondents rated the current economic conditions in the country as excellent or good, while 45 percent rated them as poor. About a third believed the economy is getting better, while 64 percent said it was getting worse.

When it comes to general economic pessimism, Wyomingites had lots of company. Only Washington, D.C., recorded a positive economic index score at plus 11. The adjoining states of Maryland and Virginia also were in the top 10.

Gallup chief economist Dennis Jacobe wrote that many people may argue that Washington’s high ranking reflects insulation from what is happening in the rest of the economy.

“This is at least partly true because those living in and around D.C. benefit from having the federal government as their major industry,” he said. “And unlike state and local governments, the federal government has continued to grow even as many other industries have not during the recession and its aftermath.”

 

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