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The response of employment to changes in oil and gas exploration and drilling

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  • Jason Brown

Abstract

Oil prices declined significantly during the summer of 2014, leading to a subsequent decline in energy exploration and drilling. By the end of April 2015, rig counts were down 49 percent. In the past, these declines have disproportionately affected the economies of oil- and gas-producing states, decreasing statewide employment and inducing ?regional recessions.?

Suggested Citation

  • Jason Brown, 2015. "The response of employment to changes in oil and gas exploration and drilling," Economic Review, Federal Reserve Bank of Kansas City, issue Q II, pages 57-81.
  • Handle: RePEc:fip:fedker:00025
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    File URL: https://www.kansascityfed.org/~/media/files/publicat/econrev/econrevarchive/2015/2q15brown.pdf
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    References listed on IDEAS

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    6. Agerton, Mark & Hartley, Peter R. & Medlock, Kenneth B. & Temzelides, Ted, 2017. "Employment impacts of upstream oil and gas investment in the United States," Energy Economics, Elsevier, vol. 62(C), pages 171-180.
    7. James D. Hamilton & Michael T. Owyang, 2012. "The Propagation of Regional Recessions," The Review of Economics and Statistics, MIT Press, vol. 94(4), pages 935-947, November.
    8. Anthony Murphy & Michael D. Plante & Mine K. YĆ¼cel, 2015. "Plunging oil prices: a boost for the U.S. economy, a jolt for Texas," Economic Letter, Federal Reserve Bank of Dallas, vol. 10(3), pages 1-4, April.
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    Cited by:

    1. Khalifa, Ahmed & Caporin, Massimiliano & Hammoudeh, Shawkat, 2017. "The relationship between oil prices and rig counts: The importance of lags," Energy Economics, Elsevier, vol. 63(C), pages 213-226.
    2. Joseph Marchand & Jeremy Weber, 2018. "Local Labor Markets And Natural Resources: A Synthesis Of The Literature," Journal of Economic Surveys, Wiley Blackwell, vol. 32(2), pages 469-490, April.
    3. Agerton, Mark & Hartley, Peter R. & Medlock, Kenneth B. & Temzelides, Ted, 2017. "Employment impacts of upstream oil and gas investment in the United States," Energy Economics, Elsevier, vol. 62(C), pages 171-180.
    4. Jason Brown, 2017. "Identifying State-Level Recessions," Economic Review, Federal Reserve Bank of Kansas City, issue Q I, pages 85-108.

    More about this item

    Keywords

    Oil; Oil and gas explorations; Gas; Oil prices;

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