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Thursday, March 31, 2016

Economists Say the Worst of the Oil Collapse is Over

From KBTX:
Researchers at the Texas A&M University Real Estate Center say a month ago, oil bottomed out around $29 a barrel. This week, it's around $39. 
In the last three months, Chief Economist Dr. Jim Gaines says Texas' unemployment is slowing after a major decline in the energy industry last year. 
"The biggest monthly job loss was probably in about November,” said Gaines. “In January and February, we were still losing jobs, but not nearly as fast, and it appears now that it's going back the other way." 
If the trend is true, Gaines says the state may have hit its maximum job loss. He says the rate of active rigs has also begun to level off.




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