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The state's oil production has soared in the past five years. Drillers have learned how to access previously unavailable oil reserves using a process known as hydraulic fracturing or "fracking." The number of oil wells in North Dakota has doubled in the past five years, and oil production has increased fivefold. Alaska had 3.8 percent more jobs in June than before the recession began, the second-largest gain. It has also benefited from oil production. So has Texas, which had 2.4 percent more jobs in June than before the recession, or third best. The other states that have regained all their lost jobs are: New York, Oklahoma, Louisiana, and South Dakota. New York has seen broad-based gains in education and health care, financial services, and other professional services such as legal services and accounting. A few states are getting close to the positive column. West Virginia and Nebraska are just a few thousand jobs short. Virginia, Pennsylvania, Massachusetts and Maryland are down less than 2 percent. Economists at IHS Global Insight, a consulting firm, estimate that 8 states won't return to their pre-recession peak employment levels until 2016 or later. There are some encouraging signs for many of the hardest-hit states, particularly those out West. Cochrane said that industries such as information technology and aerospace have accelerated job growth recently in states such as California, Arizona and Utah. The region is also benefiting from trade with Asia, he added. California added 38,300 jobs in June, its second straight month of big gains. Florida is recovering, but not as quickly, Cochrane said. Travel and tourism is growing and adding jobs. But there aren't many other healthy industries.
[Associated
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