A study of the North Dakota oil industry shows progress

The North Dakota oil industry is growing, with more long-term jobs to sustain production and less temporary workers, according to a new economic impact study.

The study, led by North American State University researchers, found that the oil industry had a $ 32.6 billion impact on the state economy in 2017, Bismarck Tribune reported.

Dean Bangsund, a research scientist with the Department of Agriculture and Applied Economics of the NDSU, gave details of some of his latest conclusions in the earlier state Capitol this week.

In 2015, temporary and long-term workers data were almost identical for the first time. Long-term workers are the largest sector since 2016-2018, according to the study.

"This has probably happened faster than we have said," Bangsund said.

Shawn Wenko, economist's economic development director for Williston, said the birth rate of births increased and the increase in the number of school programming in the western part of the state.

"There are more families coming to the area now, they're calling Williston home," Wenko said.

The number of oil industry workers in 2014 met with around 63,000 workers, according to data from the North Dakota Job Service.

The sudden drop in oil prices in the volume of labor force fell, falling in 2016 by around 30,000 oil industry workers, according to the study. By 2018, the number of industry workers has estimated 35,800.

The study indicated that the total employment volume showed the trend to the oil industry.

"The petroleum industry has a great deal in the state," said Bangsund. "When the employment goes up and down, state employment goes up and down, almost pointed out."

North Dakota dealt with "huge wings" on the economic impact of the hola industry since 2011, with hards and basements of $ 8 billion to $ 10 billion every two years, Bangsund said.


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