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? Overall employment relative to other energy states Employment in Oil states relative to June 2014 Employment in June 2014=1 .92 .94 .96 .98 1 1.02 As of June 2018, employment in Alaska was 96.6% of what it was in June 2014 92 2014 2015 Alaska 2016 2017 2018 year Alaska North Dakota West Virginia Louisiana Oklahoma Wyoming 592 Mouhcine Guettabi, PhD Oil dependence and economic activity

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