U.S. jobs in mining declined for the ninth consecutive month, since peaking in December 2014. According to the September jobs report released Friday by the Bureau of Labor Statistics, 10,300 mining jobs were lost in September, with support activities for mining decreasing by 7,200. Jobs in oil and gas extraction declined by 1,100. These figures are seasonally adjusted.
Despite employment gains of 142,000 jobs in September and an unchanging unemployment rate of 5.1 percent, the declines in mining don’t come as a surprise to an industry that has had a difficult 2015. Oil and gas companies have tried to cope with the low oil price environment for several months. Many companies have chosen to implement cost-cutting strategies which include shutting down rigs, cancelling projects and laying off employees.
Chesapeake Energy announced Sept. 29 that it had cut 15 percent of its workforce, or 740 employees. A majority of the job cuts were at their Oklahoma City headquarters.
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