Between 2007 and 2012, the annualized rate of change in U.S. wage and salary employment was -0.6%.
Only 2 of the top 10 states for proved oil reserves were worse – California (-1.0%) and New Mexico (-1.0%).
Colorado (-0.2%) and Utah (-0.1%)posted slight annualized job losses. Wyoming (0.1%), Louisiana (0.1%), and Oklahoma (0.2%) experienced slight annualized job gains.
Texas posted annualized gains of 0.9%, Alaska was 1.1% and North Dakota was 3.7%.
Eight of the states grew at a rate faster than the U.S., while 6 posted positive gains.
The extractive industries played a key role in the growth of the economy during the recovery.
©Copyright 2011 by CBER.