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Coal Bust Has Not Hit As Hard As 'Great Recession'

Coal Bust Has Not Hit As Hard As 'Great Recession'

(Gillette, Wyo.) It's no surprise that sales tax revenues are down and unemployment is up. According to Wyoming's Economic Analysis Division, Campbell County's sales and use tax income declined $33.8 million compared to this time last year. But things aren't necessarily as bad as they have been in the past. According to the Department of Workforce services, unemployment numbers are not as high as they were just a decade ago during the start of the recession. "Current unemployment claims indicate that the downturn from 2014 to 2015 was far less severe than the downturn from 2008 to 2009," read the latest issues of Labor Force Trends . "However, it is uncertain whether these economic trends will continue, or whether they have hit their lowest point; this will be influenced by political changes and the international and domestic market supply and demand situation." Despite setbacks in the coal industry, natural gas and oil prices have started to rebound , increasing between 6% and 12% in the past month alone. For now, it appears the lowered demand and prices in the energy industry have not resulted in as many job losses in 2015 as in 2009. #county17 #news