Where The Jobs Are


Given the NFP release coming up on Friday, I thought it might be interesting to look at an obscure employment data point, via Jim Bianco:

CNN/Money Finding jobs in America’s Boomtown
Workers are landing jobs that pay six-figures in  the oil boomtowns of North Dakota. But the abundance of jobs and money  comes with some steep trade-offs, including a lack of housing and  extremely harsh winters. At 3.5%, North Dakota’s unemployment  rate is the lowest in the country. (Nationwide, the rate is 9.1%). But  among the small towns that lie along the Bakken oil formation, like  Williston, Watford City and Belfield, unemployment is just 1.5%.  Many  of the highest-paying jobs are at oil companies, where workers make an  average salary of about $100,000, often with little-to-no experience or  need for a college degree.  Halliburton, Continental Resources, Hess and  Whiting Petroleum are among some of the biggest players in the area.  And jobs include everything from working on a rig to hauling crude and  equipment in trucks to helping with administrative work, said Shawn  Wenko, workplace development coordinator for the city of Williston.  But  it’s not just the oil companies that are hiring. The oil boom has  brought such a big influx of people that every single industry — from  hospitality to retail — has been hit with overwhelming demand as a  result.

Source: Bianco Research, LLC

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