Oil Jobs Fall To the Lowest Level in More Than a Year

[mahatmakanejeeves]

Oil Jobs Fall To the Lowest Level in More Than a Year

11:55 am ET
May 8, 2015
Economy

By Eric Morath

The number of Americans working on oil and gas wells has dried up to its lowest level in more than a year.

Employment in in oil-and-gas extraction fell by 3,300 in April to a seasonally adjusted 194,400, the Labor Department said Friday. That’s the fewest since March 2014 and represents a year-over-year decline for an industry that until recently had been a growth engine for the labor market.

The decrease comes while the broader economy added 223,000 jobs to payrolls last month.

Employment in the energy-extraction sector reached 201,500 in October. The recent peak, driven by the expansion of hydraulic fracturing, was the industry’s highest employment level since 1986.

[AuntPatsy]

1. Yeah I know

[Zippyjuan]

2. You had to figure this would happen.

You had to figure this would happen. Global manipulation artificially lowers the prices after fracking and the shale industry grow domestically. Merchants start buying the lowest priced product. Domestic production can't possibly compete. Globalists keep the price low until domestic production is slowed or halted. Equipment will lie dormant and rust.