Published: November 9, 2016 |

[Click image to enlarge]

Wyoming faces an uncertain economic future marked by a huge decline in the mining industry, a University of Wyoming economist said Thursday.

In 2011, the mining industry — which includes coal and natural gas — contributed $14.5 billion or 35 percent of the state’s gross domestic product according to UW economist Anne Alexander.

She spoke at the Southeast Wyoming Economic Forecast Luncheon sponsored by Wyoming Business Report this afternoon.

In 2015 mining contributed only 23 percent of the state’s gross domestic product or $8.7 billion.

From September 2015 to September 2016, Wyoming lost 9,200 jobs or 3.2 percent of jobs in the state, she said. Of that, the mining and logging industries lost 4,400 jobs in the last year.

Alexander had some good news to report, however. The unemployment rate in Wyoming stopped rising in the last few months, she said.

A panel made up of Cheyenne people employed in real estate, economic development, banking and business joined her in the discussion.  Overall, the panel had a more optimistic view of local economic conditions.

Source: (November 4, 2016) Wyoming Tribune Eagle

Be in-the-know when you’re on-the-go!