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? Source of current weakness Monthly employment in thousands January- February- 32 34 36 38 40 TIT Alaska's non Seasonally adjusted Retail monthly employment between 2014-2018 March- April- May- June- July- August- September- October Novmber- Mouhcine Guettabi, PhD month 2014 2015 2016 2017 2018 Oil dependence and economic activity December 592

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