US Jobs Report: Loss of Oil, Gas Jobs for August

Despite the United States adding 173,000 jobs in August and the unemployment rate dropping down to 5.1 percent, the oil and gas industry suffered again. The August jobs report released Friday by the Bureau of Labor Statistics showed mining jobs declined by 9,000, with 7,000 of those losses in support activities for mining.

The seasonally adjusted figures show that there were 1,100 jobs lost in oil and gas extraction since July 2015 while 7,200 jobs were lost in support activities during the same time period. 

Reeling from the decline in global crude oil prices, oil and gas companies small and large have laid off employees month after month. The downturn also set the stage for bankruptcies, acquisitions, company restructuring and other cost-cutting initiatives as many companies adjusted to the “new normal” of oil prices. Several analysts have expressed they expect a prolonged period of low oil prices that could last well into 2016. 

Unfortunately, companies have continued to layoff and there could be more layoffs in the future. Houston-based geoscience company ION Geophysical Corporation announced Sept. 2 it would implement an additional 25 percent workforce reduction

Valerie is an experienced writer and editor dedicated to providing useful and relevant career news about the oil and gas industry. Email Valerie at


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.


Our Privacy Pledge

More from this Author
Valerie Jones
Editor, Careers | Rigzone
 -  ConocoPhillips Reports $1B 3Q Loss (Oct 27)
 -  BLOG: Laid Off Energy Workers May Find... (Oct 27)
 -  Outlook: Exploring the New Breed of Oi... (Oct 25)
 -  Houston's Oil Industry Eyes Recovery, ... (Oct 21)
 -  Report: Majority of Women Not 'On Trac... (Oct 14)

Most Popular Articles

From the Career Center
Jobs that may interest you
Operations Procedure Writer Job
Expertise: Document Control|Technical Writing
Location: Township of Welch, MN
Electrical Substation Field Operations Supervisor II Job
Expertise: Operations Management|Refinery / Plant Operations Supervisor|Supply & Distribution
Location: Township of Maple Grove, MN
Administrative Assistant
Expertise: Secretarial or Administrative
Location: North Slope, AK, United States, AK
search for more jobs

Brent Crude Oil : $50.47/BBL 0.98%
Light Crude Oil : $49.72/BBL 1.09%
Natural Gas : $2.76/MMBtu 1.09%
Updated in last 24 hours