AQUA BOOK 2015 - Page 28

The relative size of the oil and gas sector in Laredo appears to follow a similar ebb and flow pattern over time as that in Corpus Christi. Laredo’s current oil and gas employment share is about half of its peak around 7 percent in the mid-1980s. For the other three metro areas, the oil and gas sector has been relatively small, accounting for no more than 2 percent of the local workforce during the past two decades. OIL IMPACTS Employment Share in Oil & Gas Activity Sources: Bureau of Labor Statistics and author’s calculations. Despite substantial gains in employment directly related to oil and gas production since 2008, the South Texas regional workforce has expanded at a more rapid pace since the 1980s and so the relative significance of oil and gas extraction has diminished for most metro areas, except perhaps Corpus Christi. 26 Annual Review of South Texas Economy