Chart 2: The Recent Downturn in Oil Prices Appears to Spell the End of the Growth Period in Oil-Patch Employment

Jan-95 $24.69 4.00%
Feb-95 $25.35 4.24%
Mar-95 $25.33 4.00%
Apr-95 $27.02 3.43%
May-95 $26.78 3.55%
Jun-95 $24.96 3.52%
Jul-95 $23.40 2.93%
Aug-95 $24.32 3.02%
Sep-95 $24.53 3.09%
Oct-95 $23.39 2.89%
Nov-95 $24.10 2.80%
Dec-95 $25.48 2.75%
Jan-96 $25.18 2.58%
Feb-96 $25.37 2.42%
Mar-96 $28.33 2.48%
Apr-96 $31.23 2.69%
May-96 $28.10 2.85%
Jun-96 $26.96 2.58%
Jul-96 $28.04 2.72%
Aug-96 $28.83 2.76%
Sep-96 $31.39 2.44%
Oct-96 $32.51 2.87%
Nov-96 $30.86 2.99%
Dec-96 $33.01 2.77%
Jan-97 $32.68 3.07%
Feb-97 $28.77 3.35%
Mar-97 $27.14 3.48%
Apr-97 $25.45 3.42%
May-97 $26.83 3.40%
Jun-97 $24.67 3.60%
Jul-97 $25.21 3.64%
Aug-97 $25.57 3.63%
Sep-97 $25.34 3.97%
Oct-97 $27.16 3.81%
Nov-97 $25.72 3.69%
Dec-97 $23.32 3.90%
Jan-98 $21.21 3.91%
Feb-98 $20.36 3.82%
Mar-98 $19.01 3.62%
Apr-98 $19.50 3.71%
May-98 $18.73 3.59%
Jun-98 $17.20 3.39%
Jul-98 $17.68 3.25%
Aug-98 $16.74 3.17%
Sep-98 $18.71 3.10%
Oct-98 $17.97 2.89%
Nov-98 $16.02 2.78%
Dec-98 $14.02 2.85%
Jan-99 $15.47 2.56%
Feb-99 $14.89 2.52%
Mar-99 $18.18 2.50%
Apr-99 $21.43 1.98%
May-99 $21.91 1.67%
Jun-99 $22.07 1.80%
Jul-99 $24.70 1.75%
Aug-99 $26.13 1.73%
Sep-99 $29.27 1.76%
Oct-99 $27.70 1.75%
Nov-99 $30.50 1.83%
Dec-99 $31.80 1.86%
Jan-00 $33.05 2.21%
Feb-00 $35.65 2.21%
Mar-00 $36.20 2.45%
Apr-00 $31.12 2.49%
May-00 $34.70 3.00%
Jun-00 $38.32 2.86%
Jul-00 $35.74 2.50%
Aug-00 $37.39 2.69%
Sep-00 $40.49 2.61%
Oct-00 $39.49 2.35%
Nov-00 $40.97 2.32%
Dec-00 $33.82 2.16%
Jan-01 $35.06 1.98%
Feb-01 $34.98 1.90%
Mar-01 $32.11 1.64%
Apr-01 $32.25 1.51%
May-01 $33.65 1.00%
Jun-01 $32.32 0.88%
Jul-01 $30.89 0.54%
Aug-01 $32.03 0.42%
Sep-01 $30.12 0.01%
Oct-01 $25.80 -0.44%
Nov-01 $22.77 -0.67%
Dec-01 $22.35 -1.07%
Jan-02 $22.71 -1.21%
Feb-02 $23.89 -1.37%
Mar-02 $28.10 -1.39%
Apr-02 $30.17 -1.26%
May-02 $31.00 -1.08%
Jun-02 $29.24 -1.32%
Jul-02 $30.82 -1.11%
Aug-02 $32.38 -1.11%
Sep-02 $33.82 -0.90%
Oct-02 $32.87 -0.71%
Nov-02 $29.87 -0.51%
Dec-02 $33.39 -0.43%
Jan-03 $37.35 -0.23%
Feb-03 $40.63 -0.32%
Mar-03 $37.98 -0.60%
Apr-03 $31.98 -0.62%
May-03 $31.79 -0.75%
Jun-03 $34.65 -0.84%
Jul-03 $34.64 -0.71%
Aug-03 $35.52 -0.67%
Sep-03 $31.79 -0.55%
Oct-03 $34.01 -0.12%
Nov-03 $34.83 -0.21%
Dec-03 $35.96 -0.01%
Jan-04 $38.27 0.24%
Feb-04 $38.74 0.43%
Mar-04 $40.86 0.82%
Apr-04 $40.70 1.09%
May-04 $44.57 0.99%
Jun-04 $42.00 1.25%
Jul-04 $44.88 1.61%
Aug-04 $49.54 1.52%
Sep-04 $50.55 1.39%
Oct-04 $58.27 1.60%
Nov-04 $53.04 1.76%
Dec-04 $47.38 1.82%
Jan-05 $51.11 1.75%
Feb-05 $52.24 1.84%
Mar-05 $58.96 1.90%
Apr-05 $57.50 2.16%
May-05 $53.94 2.22%
Jun-05 $60.87 2.27%
Jul-05 $63.41 2.39%
Aug-05 $70.15 2.45%
Sep-05 $70.69 1.87%
Oct-05 $67.04 1.24%
Nov-05 $62.48 1.68%
Dec-05 $63.56 1.79%
Jan-06 $69.96 2.00%
Feb-06 $65.68 2.15%
Mar-06 $66.84 2.33%
Apr-06 $73.87 1.81%
May-06 $75.01 2.07%
Jun-06 $74.85 2.29%
Jul-06 $78.33 1.76%
Aug-06 $76.71 2.07%
Sep-06 $66.94 3.00%
Oct-06 $61.59 3.39%
Nov-06 $62.04 3.15%
Dec-06 $64.73 3.16%
Jan-07 $56.78 2.95%
Feb-07 $61.46 3.02%
Mar-07 $62.73 3.04%
Apr-07 $66.12 2.94%
May-07 $65.46 2.89%
Jun-07 $69.45 2.96%
Jul-07 $76.19 3.08%
Aug-07 $74.22 2.90%
Sep-07 $81.75 2.56%
Oct-07 $87.95 2.91%
Nov-07 $96.26 2.90%
Dec-07 $93.10 2.67%
Jan-08 $94.05 2.76%
Feb-08 $96.36 2.69%
Mar-08 $106.47 2.14%
Apr-08 $113.29 2.37%
May-08 $125.89 2.25%
Jun-08 $134.00 1.85%
Jul-08 $133.01 1.91%
Aug-08 $115.96 1.72%
Sep-08 $103.14 1.18%
Oct-08 $76.05 1.51%
Nov-08 $56.95 0.97%
Dec-08 $40.66 0.44%
Jan-09 $41.31 0.14%
Sources: Wall Street Journal, Bureau of Labor Statistics (Haver Analytics), and FDIC.