US Jobs Report: Mining Down 7,000 in April
Jobs in mining decreased by 7,000 during the month of April, bringing the total number of mining jobs lost to 191,000 since peaking in September 2014, according to data released today from the US Bureau of Labor Statistics. More than three-quarters of the jobs lost in mining were in support activities.
Further, of the 7,000 jobs lost in April, jobs in oil and gas extraction accounted for 1,600. Since the beginning of the downturn in late 2014, the industry has seen hundreds of thousands of jobs lost across the world. The oilfield and oilfield services sector has been hit particularly hard, though midstream and downstream have felt the effects of the downturn as well.
While some larger oil and gas companies have implemented several rounds of job cuts already, more layoffs may be on the horizon as companies continue to grapple with the difficult market climate. As of May 5, oil hovered around $45 per barrel.
WHAT DO YOU THINK?
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.