The Ramifications in Texas of the Oil Price Collapse in One Chart

The Texas oil rig count has dropped from 773 in Jan. to 599 in Feb.; down 29% from 2014.

The Texas Leading Index, which uses key economic indicators to forecast employment growth, declined 1.98 percent from October to December as more than half of its components fell. New unemployment claims declined along with the index’s energy-related components, such as oil prices
and well permits, while the help-wanted component rose during the period.