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? Was government employment affected? • Alaska's government employment went from 83,100 in June 2014 to 80,300 in June 2018 Gov. employment in Oil states relative to June 2014 Employment in June 2014=1 .98 1 1.02 1.04 1.06 1.08 2014 2015 Alaska North Dakota West Virginia Mouhcine Guettabi, PhD 2016 year 2017 2018 Louisiana Oklahoma Wyoming Oil dependence and economic activity 592

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