Texas Snaps 2 Years of Oilfield Job Growth as Crude Slides - Bloomberg:
Jobs in the Texas oil patch dropped for the first time in almost two years, according to the state’s workforce commission.
The number of workers handling exploration and drilling duties fell by 500 to 247,700 in November compared with the previous month, according to the latest data from the Texas Workforce Commission. Snapping a streak of 23 months for oilfield expansion, the state is weathering volatile oil prices that have lost more than a third of their value since October.
“We have seen tremendous growth in the oil and natural gas industry in Texas, including consistent job expansion, but growth is not guaranteed,” Todd Staples, president of the state oil and gas association, said Friday in a statement.
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