- An oil worker outside of Midland, Texas, in December. Employment in mining, a category that includes oil and gas, fell by 11,000 in March.
- BLOOMBERG NEWS
Lower oil prices are taking a toll on employment in the oil and gas sector.
Employment in mining, a category that includes oil and gas, fell by 11,000 in March. So far this year, the industry has lost 30,000 jobs. It added 41,000 jobs in 2014.
Support services include companies working on a contract or for set fees and may be the easiest to add or cut when times get tough.
The Labor Department on Friday said mining sector employment losses in the first quarter of this year have been concentrated in support activities.
Oil futures peaked close to $100 a barrel in June but have since fallen below $50.
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3 April 2015 | 3:40 pm – Source: blogs.wsj.com