Just a brief post about employment since the oil boom ended. As we are all aware we went right into a bust after the boom, which is not always the case, but that is a topic for another day. With that in mind I looked at the employment data since that time, essentially early 2015. Now keep in mind there were significant gains made, and I am not even close to claiming that we gave up all the gains, but we can identify the specific change event so it makes sense to look at variables after that event.
There you go. A significant downward trajectory with employment declining about 5.5% from January 2015 to November 2016. Like I said, I am not going to discuss this much more simply because the data will be updated next week and we can look to close the book on the entire two-year window and see what it tells us.
Data Source: Bureau of Labor Statistics, Current Employment Statistics Data, State & Metro Area Employment, Hours, and Earnings, Downloaded January 20, 2017.
Higher resolution image: ndemp1116