Oil Dependence and Economic Activity
Setting the stage
Let's quickly look at where this oil decline has left the state
What about Alaska's important economic base?
Why have some states recovered?
Aggregate relationship between oil prices and employment
Where does this leave us?
Let's compare the job losses across the energy states
⚫ During the 1980's recession Wage and salary employment
declined by 3.67% in the 1986 and another 3.79% in 1987.
That totaled almost 19,000 jobs from what was a 260,000
private sector economy.
State
Cumulative declines Share of overall employment decline
Alaska (Oct 2015 to Oct 2017)
11.200
3.46%
Louisiana (Oct 2015 to Oct 2017)
North Dakota (May 2015 to May 2018)
Oklahoma(January 2016 to January 2017)
Wyoming (May 2015 to May 2017)
25,900
1.30%
25.200
5.79%
17,900
1.11%
14,000
4.94%
592
Mouhcine Guettabi, PhD
Oil dependence and economic activityView entire presentation