It’s been another month for job loss in mining, according to a report released Friday by the U.S. Bureau of Labor Statistics (BLS). There was a loss of 11,300 jobs in mining with 2,400 jobs lost in oil and gas extraction in November. At 7,000, a majority of the job losses were in support services for mining.
The figures from BLS are seasonally adjusted and follow the trend that has occurred throughout 2015. Each month, more jobs have been lost in mining as the oil and gas industry continues to deal with the low oil price environment, which is expected to last until 2017. Since a peak in December 2014, employment in mining has decreased by 123,000.
Some industry experts have estimated that globally, the oil and gas industry will see 250,000 layoffs this year alone, due to the downturn. In addition, some oil and gas companies have announced layoffs that will not be implemented until 2016 or beyond, so it’s fair to say the industry may see more job losses next year until the market bounces back.
WHAT DO YOU THINK?
Click on the button below to add 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.
More from this Author
Most Popular Articles
From the Career Center
Jobs that may interest you