West Virginia Executive Spring 2017 - Page 83

MANUFACTURING The manufacturing sector contracted at an average rate of 0.6 percent per year in the last five years. The sector, however, is expected to record net job growth over the next five years at a rate of 0.4 percent per year. Manufacturers linked to the U.S. housing market, including furniture and finished wood products producers and certain plastics manufacturers, will enjoy solid growth during the outlook period. Other segments of the sector that should grow steadily over the next five years are food products and auto parts fabricators.  Figure 3.6: Share of Total Manufacturing Employment (2015) Other Nondurables 6% Figure 3.8: West Virginia Manufacturing Industry Employment Growth Forecast Graph 3.8 WV Manufacturing Industry Employment Growth Forecast Machinery 4% Other Durables 6% Other Nondurables Wood Products & Furniture Chemicals 20% Nonmetallic Minerals 6% Plastics & Rubber Food & Beverage Transportation Equipment Manufacturing Plastics & Rubber 7% Graph 3.6 Share of Total Manufacturing Employment, 2015 Wood Products & Furniture 13% Nonmetallic Minerals Fabricated Metals 11% SOURCE: U.S. Bureau of Labor Statistics 2016-2021 Chemicals Primary Metals Food & Beverage 8% Primary Metals 9% 2005-2015 Machinery Transportation Equipment 10% Other Durables Fabricated Metals -7% -6% -5% -4% -3% -2% -1% 0% 1% 2% 3% 4% Average annual growth, % Source: US Bureau of Labor Statistics; WVU BBER Econometric Model SOURCE: U.S. Energy Information Administration Source: US Bureau of Labor Statistics Congratulations, Joe Eddy, on being named a West Virginia Executive Sharp Shooter! ® Proudly Supported By: WWW.WVEXECUTIVE.COM S P R I N G 2 017 81