From Ohio History Central
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Caldwell's economic fortunes declined in the first part of the twentieth century, as Noble County's oil reserves became depleted. Today, most residents find employment in retail stores or in health care. Caldwell had only 1,956 residents in 2000. Over one-half of the town's residents were school-aged children in 2000. Caldwell's nearly two thousand residents comprised almost one-seventh of Noble County's entire population, making the county one of the least populated in Ohio.