December’s job report crushed it.
Data out of the Bureau of Labour Statistics on Friday showed that the US economy added 292,000 jobs in December, and the unemployment rate held steady at 5%.
However, one struggling American industry continues to bleed jobs: mining.
“Mining and logging employment decreased by 8,000 in December. This was the industry’s twelfth consecutive month of employment decline,” according to the BLS report. “Mining and logging has lost 131,000 jobs since December 2014.”
“Mining drives the employment trend in this sector and accounts for essentially all losses over the month (-8,000) and over the year (-129,000). These losses were concentrated in support activities for mining,” the report added.
Notably, “mining” includes the oil industry — and more specifically, the oil drillers. Given that oil prices have been low all year — and are still dropping — it’s not wholly unsurprising that jobs in that industry were hit hard over the last year.
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