The charts show the amount of oil consumption (in millions of barrels), the rate of oil employment and national employment over a 60- year period in a small country.
Overall, there is a clear connection between oil consumption and employment patterns in this industry. An increase of the amount of oil consumed appears to reflect the rise of employees recruited in this industry, and by contrast the unemployment rate.
Regarding the annual oil consumption, this fluctuated around 20 million barrels in the first 20 years before climbing dramatically towards 40 million in 2000 and around 50 million at the end of 2010. Likewise, we can see that the growth in oil consumption was matched by a similar threefold trend in employees in oil sectors. Numbers fluctuated 1,000 people by 1970, then followed by an increase to 1,800 in 1980 with a peak of 3,100 in 2010.
However, the unemployment rate in a nation is reversed, there was a slight increase by 0.1 percent in 1960, then dropping from 4.1 percent to 3.9 percent in 1980 and accounting for 1.6 percent in 50 years afterwards.
