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Wyoming Labor Force Trends

July 2024 | Volume 61, No. 7


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Growing and Declining Industries in Wyoming, 2023Q4

Article | Tables & Figures

 

by: Laura Yetter, Senior Economist

 

The Research & Planning (R&P) section of the Wyoming Department of Workforce Services publishes quarterly reports on growing and declining industries in Wyoming online at https://doe.state.wy.us/LMI/G_DInd/G_D_Industries.htm.

This article provides excerpts and selected data from the full report for fourth quarter 2023 (2023Q4), which is available at https://doe.state.wy.us/LMI/G_DInd/Report_23Q4.pdf.

A growing or declining industry is defined as an industry’s employment level increasing or decreasing for two quarters by 5% or more over the year based on data from the Quarterly Census of Employment and Wages. For example, all industries that grew or declined in employment by at least 5% from 2022Q3 to 2023Q3 and subsequently from 2022Q4 to 2023Q4 were included in the respective tables in this article. Only subsectors with employment of 100 or more are included in the growing and declining industries for Wyoming.

Industries are defined by the North American Industry Classification System (NAICS). For this research, growing and declining industries are determined at the three-digit subsector level.

As shown in Table 1, Wyoming had four growing industries in 2023Q4, accounting for 4.9% of all industries and 3.6% of the state's total employment (see Table 2). Heavy & civil engineering construction showed the greatest growth of the four growing industries, increasing by an average of 1,236 jobs, or 23.8%. The other growing industries were membership associations & organizations (144, or 7.6%), electrical equipment & appliance manufacturing (66, or 16.8%), and management of companies & enterprises (57, or 5.8%).

There were five declining industries in 2023Q4 (see Table 3). The greatest decline was seen in furniture, home furnishings, electronics, & appliance retailers, with an average loss of 96 jobs, or 7.0%. The remaining declining industries were petroleum & coal products manufacturing (-84, or -8.1%), private households (-29, or -10.7%), furniture & related product manufacturing (-27, or -14.5%), and miscellaneous manufacturing (-25, or -12.8%).