1 / 20

The Context of Wyoming’s Current Economic Downturn Presented by Tom Gallagher, R&P Manager

This presentation discusses the current economic downturn in Wyoming, with a focus on employment and wage trends in the mining sector. It also explores regional trends during economic downturns and compares Wyoming's previous and current economic downturns.

dfogarty
Download Presentation

The Context of Wyoming’s Current Economic Downturn Presented by Tom Gallagher, R&P Manager

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Wyoming Department of Workforce Services Research & Planning The Context of Wyoming’s Current Economic DownturnPresented by Tom Gallagher, R&P Manager Wyoming Workforce Development Council, May 13, 2016

  2. Research & Planninghttp://doe.state.wy.us/LMI OUR ORGANIZATION: R&P is a separate, exclusively statistical entity. WHAT WE DO: R&P collects, analyzes, and publishes timely and accurate labor market information (LMI) meeting established statistical standards. OUR CUSTOMERS: LMI makes the labor market more efficient by providing the public and the public’s representatives with the basis for informed decision making.

  3. The Context of Wyoming’s Current Economic Downturn • Overview: Wyoming in 2015 and 2016 • Wyoming’s Mining Sector • Regional Trends During Wyoming’s Economic Downturns

  4. I. Overview: Wyoming in 2015 and 2016 • Employment and Wages • Employment and Wages by County • Natrona County • Sweetwater County • Unemployment Insurance Claims

  5. Wyoming Employment and Wages, 2014Q4 and 2015Q4 Figure 1: Average Monthly Employment and Total Wages for Wyoming, 2014Q4 and 2015Q4

  6. Wyoming Employment and Wages, 2005Q4 to 2015Q4 Figure 2: Over-the-Year Percentage Change in Total Wages and Average Monthly Employment Across All Industries in Wyoming, 2005Q4 to 2015Q4

  7. Wyoming Employment and Wages by County, 2005Q3 to 2015Q3 Figure 3: Average Monthly Employment and Total Wages in Wyoming by County, 2015Q3

  8. Natrona County Figure 4: Average Monthly Employment and Total Wages for Natrona County, 2014Q4 and 2015Q4

  9. Natrona County Table 1: Average Monthly Employment and Total Wages for Natrona County by Industry, 2014Q4 and 2015Q4

  10. Sweetwater County Figure 5: Average Monthly Employment and Total Wages for Sweetwater County, 2014Q4 and 2015Q4

  11. Sweetwater County Table 2: Average Monthly Employment and Total Wages for Sweetwater County by Industry, 2014Q4 and 2015Q4

  12. Initial Unemployment Insurance Claims, April 2006 to April 2016 Figure 6: Number of Initial Unemployment Insurance (UI) Claims Across All Industries in Wyoming , April 2006 to April 2016

  13. II. Wyoming’s Mining Sector • Employment and Wages • Hires and Exits • Unemployment Insurance Claims

  14. Mining Figure 7: Average Monthly Employment and Total Wages for Wyoming’s Mining Sector, 2014Q3 and 2015Q3

  15. Mining Hires and Exits in Wyoming, 2005Q3 to 2015Q3 Figure 8: Number of Hires and Exits in Wyoming’s Mining Sector, 2005Q3 to 2015Q3

  16. Initial Unemployment Insurance Claims in Mining, April 2006 to April 2016 Figure 9: Number of Initial Unemployment Insurance (UI) Claims in Natural Resources & Mining in Wyoming , April 2006 to April 2016

  17. III. Regional Trends During Wyoming’s Economic Downturns Wyoming’s Previous Economic Downturn: 2009Q1 to 2010Q1 • Preceded by U.S. Great Recession: December 2007 to June 2009 • Surrounding states and U.S. experienced contraction before Wyoming • Rise and collapse of coal bed methane Wyoming’s Current Economic Downturn: 2015Q2 to Present • U.S. and surrounding states experienced growth, especially Colorado and Utah • Declining prices of oil, natural gas, & coal • Reduction in demand for coal

  18. Regional Trends During Wyoming’s Economic Downturns Figure 10: Over-the-Year Percentage Change in Average Monthly Employment in Wyoming, Surrounding States, and the U.S., 2005Q3 to 2015Q3

  19. Regional Trends During Wyoming’s Economic Downturns Figure 11: Over-the-Year Percentage Change in Average Monthly Employment in Wyoming, Surrounding States, and the U.S., 2008Q2-2009Q2 and 2014Q3-2015Q3

  20. Questions? Tom Gallagher, Manager tom.gallagher@wyo.gov Research & Planning Wyoming Department of Workforce Services PO Box 2760 246 S. Center St. Casper, WY 82601(307) 473-3807 DWS-RESEARCHPLANNING@wyo.gov http://wyomingLMI.org

More Related