US Jobs Report for June: Mining Jobs Down by 6,000
Jobs in mining decreased by 6,000 in June, bringing the total number of mining job losses to 211,000 since a peak in September 2014. The U.S. Department of Labor’s jobs report released Friday shows that despite the country adding 287,000 jobs in June, the oil and gas industry continues to suffer.
Seasonally adjusted figures from the Bureau of Labor Statistics show 2,200 jobs were lost in oil and gas extraction, categorized under mining. Jobs in support activities for mining declined by 3,500.
Though globally, more than 350,000 jobs in oil and gas have been lost since the onset of the downturn, many believe the worst of it is over. Cuts in capital expenditures (CAPEX) have begun to level out and oil and gas companies are starting to have a more optimistic outlook on the industry. Still, industry experts anticipate there will be more months of layoffs before the market balances out.
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.