Illinois, U.S.A. — Manufacturing employment in West Virginia dropped 1.3% over the past twelve months according to the 2013 West Virginia Manufacturers Register, an industrial directory published annually by Manufacturers’ News, Inc. (MNI). MNI reports West Virginia lost 1,113 industrial jobs or 1.3% between July 2011 and July 2012, a greater decline than the half percent loss reported over the 2010-2011 survey period.

Manufacturers’ News reports West Virginia is now home to 1,947 manufacturers employing 83,225 workers.

“West Virginia still struggles with decreased demand and high business costs,” says Tom Dubin, President of the Evanston, IL-based publishing company, which has been surveying industry since 1912. “When choosing a location for a new plant, manufacturers look at labor and energy costs, as well as the tax and regulatory burdens. West Virginia often has not been competitive with other states in these areas.”

MNI reports employment in coal mining was one of the few bright spots for the state with employment up 7.5% over the year, and currently accounts for the most industrial job in the state, employing 13,661. The chemicals sector employs the second most with 8,220 jobs, down 6.4% over the year. Third-ranked industrial equipment and machinery accounts for 7,064 manufacturing jobs, down 8.8% over the past twelve months.

Employment losses were also seen in textiles/apparel, down 19.6%; lumber/wood, down 7.1%; transportation equipment, down 5.5%; furniture/fixtures, down 5.3%; and stone/clay/glass, down 2.1%. Employment remained steady in paper products and printing/publishing, while gains were seen in electronics, up 4.8%; instruments/related products, up 2%; primary metals, up 1.6% and food products, up 1%.

Additional bright spots for the state included Nippon Thermostat’s plans to expand its plant in Putnam County; Hino Motors’ planned expansion of its facility in Williamstown; the opening of Spanish auto parts supplier Gestamp’s new location in South Charleston; and the expansion of Rubberlite’s factory in Huntington.

Manufacturers’ News reports the Northern region of the state accounts for 39,005 industrial jobs, down 3.1%. The Southwest region is home to 30,279 manufacturing jobs, up 1%, while Central West Virginia is home to 7,684, down 1.6%. The Southeast accounts for 6,257 industrial jobs, with no change reported over the past twelve months.

MNI’s city data shows Huntington is West Virginia’s top city for manufacturing employment, home to 6,035 jobs, down 1.9% over the year. Second-ranked Charleston accounts for 4,398 jobs, up 2.9%.Morgantown is now home to 4,288 industrial jobs, down 15.3% over the year after Shaft Drillers International moved its headquarters to Pennsylvania. Industrial employment in Moorefield increased 4.7%, with the 4th-ranked city accounting for 3,333 of the state’s jobs. Fifth-ranked Martinsburgaccounts for 2,739 jobs, with no significant change reported over the past twelve months.

Detailed profiles of West Virginia’s 1,947 manufacturers and 320 distributors can be found in the 2013 West Virginia Manufacturers Register, available in print for $87, or available online through MNI’s subscription-based service at www.ezselect.com. Users may generate custom profiles of manufacturers using a variety of criteria, including area or zip code, county, SIC, sales volume, number of employees, and more. Each profile provides up to 30 facts, including vital contact information (phone, web, e-mail), 7,543 executives by name and title, product(s) manufactured, annual sales, and number of employees. MNI also maintains IndustryNet.com, an industrial search engine designed specifically for locating manufacturers and suppliers nationwide, and has recently launched an expansion and relocation guide for manufacturers.

Manufacturers’ News, Inc. is the nation’s oldest and largest publisher of state manufacturers directories. For 100 years the company has identified, researched and profiled manufacturing establishments. MNI employs an 85-person editorial staff to scour state business registrations, trade journals, financial reports, and many other sources to pinpoint every manufacturing establishment in the U.S. Each manufacturer is contacted throughout the year to update their profiles, including their employee counts. For more information, visit www.manufacturersnews.com.

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The U.S., Japan and Australia are expected to escape recession over the next 12 months, with the U.S. economy now expected to expand by 2.9 percent over the period, according to the Spring Outlook report from Mellon Capital Management Corporation, part of BNY Mellon Asset Management.

Excluding the U.S., Japan and Australia, most developed countries are expected to experience a mild recession over the next year, with European countries at the highest risk, the report said.

“The U.S. economy is continuing to strengthen and we now put the probability of anemic U.S. growth at less than five percent,” said Lex Huberts, president of Mellon Capital. ”This is a significant improvement from September, when the probability was closer to 20 percent that the U.S. economy would grow at less than two percent over the next year.”

Mellon Capital generates its own proprietary measure of leading economic indicators (LEI), with an LEI level of slightly less than 100 indicating, in Mellon Capital’s view, a significant probability of a mild economic contraction.  All major developed countries except the U.S., Japan and Australia currently have readings below 100.  Southern peripheral countries in Europe have the lowest LEI, but France, Great Britain and Germany also appear weak, all below 99, signaling the likelihood of at least a mild recession, according to the report.

“Looking at our forward estimates of economic fundamentals, we are cautiously optimistic on stocks given the signs of economic recovery in the U.S., positive steps toward resolving the euro area debt crisis and the general stabilization of earnings forecasts in Europe,” said Huberts.  “However, tensions with Iran are a concern.”

The report also notes that Mellon Capital is moderately positive on commodities, favors emerging markets equities and favors the Australian dollar and Canadian dollar among developed market currencies at this time.

Gabriela Parcella, chief executive officer of Mellon Capital, said, “We are seeing growing interest in our global asset allocation and alternatives strategies as institutions increasingly recognize the opportunities for investing in the current economic environment.”

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