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According to new data reported this week by IndustryNet, West Virginia's manufacturing workforce shrank for yet another year, though the rate at which the state is losing jobs appears to be slowing. Policy shifts crafted by the new administration could have a major impact on West Virginia manufacturing, and steady improvements in the state's business climate may also serve to boost industrial production in the years to come.
This post will explore major trends in West Virginia manufacturing, delving into city, county, and regional data. We'll also examine some of the major announcements over the past several years, and assess the state's outlook in light of new Trump Administration policies - particularly in the ailing coal industry.
The year in review
West Virginia manufacturer...(Full Article)
North Dakota industrial jobs decline for a second year in a row - though losses have slowed
Friday, August 18, 2017
According to new data released this week by MNI, compiler and publisher of the industrial information that powers IndustryNet, North Dakota lost jobs in its industrial sector, as the state's oil/gas industry continues to shrink. MNI reports the state lost 320 manufacturing jobs from May 2016 to May 2017, or 1%.
This is the second straight year MNI recorded an employment decline in North Dakota's industrial sector. Losses seem to have slowed, however, with MNI's 2015-2016 survey showing a much sharper 6% decline in employment, suggesting the worst of the state's losses may be over.
After the oil bust, is North Dakota once again poised for growth?
North Dakota was the star of the nation's post-recession recovery period. Between May of 2011 and May 2015, North Dakota added a stagge...(Full Article)
Louisiana was among several states in the nation to add thousands of jobs in the years following the recession as the energy boom took hold, but as oil prices plummeted, so did the state's industrial employment. According to MNI data, the state shed more than 8,500 jobs since May of 2014. Jobs in the oil/gas extraction industry were largely responsible for the decline, plunging 11% over that three-year time period.
MNI's 2015-2016 survey, however, shows jobs in the oil/gas extraction declined just 1.2%, suggesting the industry may have finally hit bottom. Losses over the past year were instead spread across a wide variety of industries, which points to other factors beyond oil that are playing a role in the state's manufacturing slump.
Losses were recorded in fabricated metals; rub...(Full Article)
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