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Wyoming Industrial Job Losses Slow

 
 
 
 

Contact: Jennifer Ratcliff
Manufacturers' News, Inc.
(847) 864-9440 ext. 241
jratcliff [at] mni.net




EVANSTON, Ill, January 23rd, 2018/Manufacturers' News, Inc./-- Wyoming lost industrial jobs for a third straight year, though at a slower rate than reported in previous years, reports MNI (Manufacturers' News, Inc.) Evanston, IL. According to MNI’s database of manufacturers, Wyoming industrial companies shed 1,026 jobs between November 2016 and November 2017 – less than half the number of jobs the state lost over the 2015-2016 survey period.

Losses were led by Wyoming’s energy sector, reports MNI, with employment in the state’s oil/gas extraction sector down 8%, and coal mining jobs down 4%. These two industries represent nearly half of Wyoming’s industrial workforce, with oil/gas employing 8,254 workers, and coal mining 5,823.

Currently, there are 1,036 industrial companies in Wyoming, employing 30,243.

Wyoming’s industrial employment gains since the recession were largely based on the state’s oil/gas sector, which surged 27% between 2010 and 2014. Since then, however, the sector has lost as many jobs as it had gained, down 3,117 jobs or 27.4% since November 2014.

Still, losses in the oil/gas extraction over the past year are far less than they were over the 2015-2016 survey period, in which the state lost 12% of its oil/gas jobs.

“Over the past few years industrial employment in Wyoming has suffered from falling oil prices, while federal regulations and shrinking demand have impacted the state’s coal industry,” says Tom Dubin, President of the Evanston, IL-based publishing company, which has been surveying industry since 1912. “However, losses appear to be slowing, helped by higher oil prices and the easing of federal regulations. In addition, employment has strengthened in several key sectors like food processing and industrial machinery.”

Additional industrial sectors shedding jobs in Wyoming included furniture/fixtures, down 11%; printing/publishing, down 8%; lumber/wood, down 7%; stone/clay/glass, down 4.4%; instruments/related products, down 3.8%; and transportation equipment, down 2.3%.

These losses were offset, however, by job gains in food processing, up 5%; rubber/plastics, up 4%; electronics, up 3%; and industrial machinery, up 1%.

Bright spots for the state included Clean Coal Technologies’ announcement of a new plant slated to break in Gillette this year, and an expansion at the newly-opened Tungsten Heavy Powder and Parts plant in Laramie.

City data collected by MNI shows industrial employment losses in Gillette slowed over the past year, dropping 6.8%, in comparison to a 20% drop MNI recorded for the city over the 2015-2016 survey period. Gillette remains Wyoming’s top city for industrial employment, home to 4,855 workers.

Industrial job losses in Casper, however, accelerated in the past year, down 12%, following a 9.3% drop recorded over the 2015-2016 survey period. Casper currently ranks second in the state for industrial employment, with 3,485 workers.

Third-ranked Rock Springs is home to 2,919 workers, down 4.5%, reports MNI. Wright and Green River saw no significant change in employment over the past year, and account for 2,780 and 2,304 jobs, respectively.

Established in 1912, MNI is the nation’s oldest and largest compiler of industrial information, offering tailored solutions to help customers connect with 430,000 manufacturers and suppliers. MNI’s industrial marketplace IndustryNet: http://www.industrynet.com is a one-stop resource that connects buyers with suppliers of 10,000 + products and services, and allows users to obtain competitive quotes, create and view company profiles, post company news releases, photos, videos, job openings, and more. MNI’s subscription service EZ Select: http://www.ezselect.com provides access to MNI’s live interactive database of manufacturers. For more information, contact MNI at 847-864-7000 or visit http://www.mni.net
 
 
 
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