Wyoming economy expanding despite losses, experts say

Wyoming energy continues to drive improvements for an economy that was greatly weakened by the two-year downturn in the coal, oil and gas industries, according to a monthly economic snapshot.

A number of positive signs, like energy spending and added jobs, show an expanding economy, said Jim Robinson, principal economist at the state’s Economic Analysis Division and author of the March MACRO report released Tuesday.

Expansion is needed. Wyoming’s state and local coffers continue to suffer from sharp decline in energy dollars in recent years. As far as people go, Wyoming has counted the losses. Recent data revealed that the downturn caused Wyoming’s steepest population drop since 1989. The number of unemployed people searching for positions declined and the total number of able-bodied Wyomingites available to work contracted.

The labor force is expected to continue shrinking into 2018, some say, despite the moderate increase each month of rig workers in the oil and gas fields.

“The labor force? That’s still contracting. That’s getting smaller,” Robinson said. “We’ve been steadily improving ... But it’s only been one hundred or two hundred a month (for oil and gas jobs).”

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