MIDLAND, Texas — Oil and gas prices have stayed steady over the last couple of months, which is good news for the local economy.
"Because it has traditionally been a boom and a bust cycle out here, workers will leave and never come back because they don't like losing their job," said Mickey Cargile of Cargile Investment Management. "That's something that's been true out here our entire existence. It's a little different now because we have a little smoother period with the oil production."
Right now there is a gap in the amount of workers needed to fill positions for jobs in the area.
"It is hard to get workers out here," said Cargile. "Local unemployment is at about 2.8%, so that obviously, that means there's more jobs than workers."
To get more people to come to the Permian Basin, it's about building a place where people want to live.
"As far as getting more workers out here, you know, we need to build out our infrastructure a little bit more," said Cargile. "But, when you have good-paying jobs like we have out here, that will kind of take care of itself."
As of right now, things look as if they will be staying on course.
"My outlook for the future here remains bright," said Cargile. "There may be a little softening, but I don't think it'll be enough that most people will notice."