In recent weeks, the price of gasoline has ticked up but regular unleaded still costs about a dollar less than it did a year ago. That's good for consumers, who have more money to spend. But in Houston, one way or another, the paychecks consumers depend on come from the oil business.
The world's three biggest oilfield service firms — Schlumberger, Halliburton and Baker Hughes — have announced a combined 22,000 layoffs in recent months. Those job cuts are worldwide, but many are falling in Houston, where all three companies have headquarters.