oil

The recent drops and volatility in commodities markets, particularly oil, are well-known. One of the big ongoing questions for the state of North Dakota is the impact on the state economy of these new developments in oil. We have seen that oil and gas output is not necessarily suffering with the price decreases or volatility. So where are the effects? You might expect to see it in a graph of labor force, like this:

Continue reading North Dakota Labor Force: Oil Bust? Edition

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The subtitle of this post could be bludgeoning the reader with numbers, but oh well.

As I mentioned in last week’s post (available here) there was a scheduled update to the detailed data on state-level real GDP this week. With any update like this there are many different dimensions to consider. The first aspect to consider is the release of new data. New data provides us an updated look at the state of the economy and (hopefully) a better sense of the good, the bad, and yes, the ugly. In these releases there are also updates to the older data. More complete information is available as time passes so we get a better look at what happened in the recent past.

Continue reading Agriculture v. Mining in ND, Round Two

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I imagine the different sectors of economic activity in any state argue about their relative importance. Lately the contest in North Dakota has been about the relative importance of agriculture and mining. My personal opinion is that if the data support an actual argument of this point than you are fortunate enough. These debates rage though and so I tend to investigate. There are many different ways to approach these types of questions but I am not going to go through a refereeing of different methods. I will just go through what I think the data are trying to impart to us.

Continue reading Agriculture v. Mining, North Dakota Edition

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