The US Energy Sector's 27-Month Streak Of Adding Jobs Has Ended

california oil wellsOil wells offshore at Summerland, California c. 1915

The oil and gas extraction industry lost 600 payrolls in March, according to the BLS report out this morning.

That ends a 27-straight month period without job losses for the sector.

Total payrolls fell to 192,500 from 193,100.

We shouldn’t necessarily be surprised — oil prices have now entered their second year of a downward trend.

But natural gas prices rose practically every other day in March thanks to the cold snap.

One data point does not a trend make, but watch this space. 

For more on today’s jobs report, see here >

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