US Jobs Report: Mining Down 12,000
Jobs in mining have declined for the 18th consecutive month, data from the U.S. Department of Labor’s recent jobs report reveals.
While the United States added 215,000 jobs in March, employment in mining decreased by 12,000 with 9,900 of those job losses concentrated in support activities for mining. Since peaking in September 2014, mining employment has decreased by a total of 185,000.
In March, jobs specifically in oil and gas extraction declined by 1,100. Companies such as BP plc are still conducting layoffs as part of longer term business plans; the company recently announced it was laying off 500 workers in Houston. Other companies are opting to close their offices to cope with the low oil price environment and some companies have already made several rounds of cuts within their organizations.
March saw oil prices increase by more than 10 percent, and with oil inching closer to $40, some are hopeful that layoff announcements will diminish as the market works toward a full recovery.
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