Chart of the week: Texan workers will slip up on oil

Texas UnemploymentWhen oil prices halved in 1986, “Texas suffered greatly”, says Justin Lahart in The Wall Street Journal. Texas  unemployment leapt (see chart). With oil-related investment slowing, it won’t be much fun this time either.

Texas accounts for 37% of US crude production. Oil-field workers and related jobs, from lorry drivers to convenience store clerks, comprised 3.7% of Texan employment last year – the same proportion as in 1985.