Thanks To The Oil And Gas Boom, ND, AK And TX Have Regained All Jobs Lost During Rece

Despite the gradual improvements in the U.S. labor market and the 8.5% jobless rate for December, the payroll employment level of 131.9 million jobs in December is still more than six million jobs below the 137.9 million peak level when the recession started in December 2007. In percentage terms, December payrolls were 4.5% below the December 2007 level, see the chart above.

In contrast to the ongoing “jobless recovery” at the national level, there are three states that have now regained all of the jobs lost during the recession: North Dakota, Alaska and Texas (see chart above). What do these three states have in common? They are all oil and gas rich, and have been adding thousands of mining and natural resources jobs over the last several years (12,000 in North Dakota, 2,200 in Alaska and 66,600 in Texas) to keep up with the increased domestic production of energy resources, mostly for shale gas and oil.

http://www.dailymarkets.com/economy/...ing-recession/

Watch, Obama will take credit.

Now hiring: North Dakota oil boom creates thousands of jobs

Those hurt hard by the ailing economy are flocking to Williston, N.D., where an oil boom has turned a sleepy prairie town into a place producing thousands of jobs.

"There's opportunity here and that's what we all need is opportunity," said Williston Mayor Ward Koeser. "It's kind of been an oasis for the country. You know, there's a lot of jobs here, good paying jobs in the oil industry."

Williston is situated on the Bakken formation, an oil field that some say will produce the biggest boom in North America since the 1960s. Koeser said that his town currently has 2,000 to 3000 jobs and they haven't been able to fill the openings fast enough.

"A lot of jobs get filled every day, but it's like for every job you fill, another job and a half opens up," Koeser said.

A job on an oil rig can pay as much as six figures. The starting salary for truck drivers is around $80,000. While the nation's unemployment rate is 9.1 percent, Williston's unemployment rate is less than 1 percent.

Locals say job seekers from all 50 states are heading to the North Dakota town, becoming modern-day pioneers. The town's population has nearly doubled from 12,600 people to 23,000 people.

Patrick Parker hitchhiked from Yuba City, Calif., to Williston. When NBC News spoke to him, he had just $12 in his pocket. Parker, a paving stone layer by trade, has been out of work for two years.

"One of my goals is to make my daughters proud of me," said an emotional Parker. "I want to make them proud because I worked a good job for 10 years and then for it to go away it's just, it just gets to me a little bit."

This takes you to the top of the video: http://rockcenter.msnbc.msn.com/_new...usands-of-jobs

There is so much growth that a new sewage treatment plant is needed. That will create........... more jobs - public sector union jobs too!!!!, and it is public works "infrastructure" so the liberals should be happy. Not to mention that they need more roads to handle the traffic. Liberals should be sooo happy -- building roads!!! YAY!!!

The private sector is creating public sector union jobs!!! This is a 5 star thread for sure!!!

Government does not create jobs, free enterprise does. God this has got to piss liberals (socialists) off. The private sector oil and gas industry is generating tax revenue for the government to consume, and yet they're against it. In their obstructionist nature, they will try to put an end to it.

Everyone can make a buck IF they really want to. Go to ND, TX and AR where good high paying middle class jobs are available courtesy of BIG OIL.

Thank GOD for BIG OIL.

But you told me that President Obama had outlawed oil and gas drilling under a Marxist, Shariah, anti-free enterprise law decree. Phew, I feel so much better now that big oil has come to the rescue and stood up to that monster.

"increased oil and gas production". But you told me that was impossible. Marxist, dictator Obama
would never let production rise or jobs come to America.

Quote:

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Originally Posted by Havakasha

But you told me that President Obama had outlawed oil and gas drilling under a Marxist, Shariah, anti-free enterprise law decree. Phew, I feel so much better now that big oil has come to the rescue and stood up to that monster.

"increased oil and gas production". But you told me that was impossible. Marxist, dictator Obama
would never let production rise or jobs come to America.

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Nice try lol! Obama is and his cronies are as anti "big oil" as they come. In fact, didn't the democratically controlled senate sponser a bill to tax them extra?

Suffice to say, that against all odds, BIG OIL is helping middle class Americans, and Obama and his likeminded party memebers CANNOT stop this success. Add that additional taxes are being collected. You see, OIL and GAS are affordable sources of energy that employ Americans.

LMFAO.

Job creator = BIG OIL

Not only does BIG OIL directly create high paying middle class jobs, BIG OIL indirectly creates high paying public and private UNION jobs, and opportunities for more jobs yet!! ND needs more roads, more sewage treatment plants, housing, food service.....

Let me share something with you. Did you know that water is "recycled" up to 7 times before it hits the ocean? Here's how it works. Our sewage is treated and returned to a river. 20 miles down river, water is purified for public consumption. Repeat.

Now do you see where I'm coming from? I'll help. Public Works. Fracking my friend, is a huge opportunity.

Politicians (i.e. the government) are not jobs creators. Laughable idea. This is how the free market works. There is a need for reliable low cost energy, and it is being filled through innovation. This innovation drives everything else. Politicians (i.e. the government) drive NOTHING.

You dont know what you are talking about. Your Austrian School of economics model is bankrupt. You cant hide or run. :)


How will Peter Schiff and the Austrian school of economics predictions do this year?
Last year they did pretty badly. Wonder if SiriuslyWrong and Ron Paul will still praise and
defend him?

http://coolspot7.wordpress.com/2011/...ce-in-a-while/



Well, let’s go back in time and see how good his prediction was for 2011:

US dollar demise: Schiff does not see much safety in the US dollar. Schiff says it is not just a dollar collapse, it is a bond collapse too; "avoid any kind of long term bonds, avoid treasuries, and avoid municipal bonds."
The year is not over yet, there is still one more trading day so this can change, but in 2011 the US dollar is up 1.85%, basically flat. No collapse in the dollar like what Schiff predicted.

The 3-year Treasury bond fund (SHY) is up 0.56% (basically flat), 10-year Treasury bond fund (IEF) is up 12%, and the 20-year Treasury bond fund (TLT) is up 28%. No collapse in treasuries like what Schiff predicted.

I looked up three municipal bond ETFs (PZA, MUNI, MUB) and they are up 8%, 5%, and 10%. No collapse in municipal bonds like what Schiff predicted.

I looked up one long term bond ETFs (BLV) and it is up 16%. No collapse in long term bonds like what Schiff predicted.

Indeed, every bond fund I checked was up big this year (and everyone one I wasn’t invested in was up more than mine). Quite simply, what Schiff predicted would occur this year did not occur.

Buy emerging markets and foreign currencies. Schiff is focusing on Asia where people work hard, are producing and have savings.
The emerging market funds (VWO, EEM) were down 20% this year.

For currencies:

Japanese Yen: +4%
Australian Dollar: –0.9%
Swiss Franc: –1%
Canadian Dollar: –2%
Swedish Krona: –3.06%
Euro: –3%
Chinese Yuan: –1%
Mexican Peso: –11%
New Zealand Dollar: –10%
Russian Ruble: –4%
US Dollar: +1.85%

How did the US dollar do against some other currencies directly?
vs Singapore Dollar: +1.48%
vs Hong Kong Dollar: –0.03%
vs South African Rand: +25%

Looks like the US dollar did very well this year and held its own against almost everyone, contrary to what Schiff said. Emerging markets also did poorly, contrary to what Schiff said.

Buy precious metals and commodities. Stay with gold, stay with silver.
Gold is up +9% this year, so he got this one right. However, silver is down –10% this year. Copper is down 42%, Aluminum is down 45% and platinum is down 25%. If you were lucky enough to buy a precious metal ETF, you could have made some money but not very much, maybe 3%.

What about other commodities? The general commodities ETFs (GSG, MOO, DBA) are down 3%, 20% and 11%.

The fact is that commodities did not do very well this year, contrary to Schiff’s advice.

If you would have listened to Peter Schiff this year, you wouldn’t have done very well in the market. You would have underperformed it. Everything he recommended was either flat (currencies), down big (emerging markets) or straight up wrong (collapse in dollar, treasuries and bonds). He was right on gold but wrong on silver – and every other metal. That’s 1 out of 7.

Now, you can argue (as Schiff does) that gold is a long term investment and long term, everything he is saying will turn out to be correct. Maybe. But for now, his prognostications are no more correct than anyone else’s.

He did say, after all, that this was his outlook for 2011.

Funny that Hava - get a freaking accountant - kasha would try to change the subject to his least favorite free market economist.

Now please tell me, how do you really feel about BIG OIL creating high paying middle class jobs. Are you "FOR" it, or "AGAINST" it?

Quote:

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Originally Posted by SiriuslyLong

Funny that Hava - get a freaking accountant - kasha would try to change the subject to his least favorite free market economist.

Now please tell me, how do you really feel about BIG OIL creating high paying middle class jobs. Are you "FOR" it, or "AGAINST" it?

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FOR or AGAINST Lloyd? Remember, an increase in public sector union jobs are a consequence of this development. Do you support them?

I wonder of the tax avoiding hypocrite - Hava-gafa-kasha, will answer the direct question. Or will he post articles on fracking because his party mandates it?