McMullen County Texas is in the heart of the oil-rich Eagle Ford Shale formation in South Texas, where oil production is gushing and could reach 1 million barrels per day by 2016
. A recent study
from the University of Texas-San Antonio projects the creation of approximately "shale-ready" 117,000
full-time jobs in the Eagle Ford region by 2021. And that job growth is already starting to show up in McMullen County, where the the unemployment rate in April fell to a 14-year low of 2.4% (see chart above). That's more than a 5 percent drop in the jobless rate in just 34 months from the recession-related peak of 7.5% in June of 2009.
Drill, drill, drill = jobs, jobs, jobs =a multi-decade low jobless rate of 2.4% in McMullen County.