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US gas and oil producers cut job places

Experts are talking about a 26% drop in employment levels since its peak in October 2014.

08.Aug.16 11:43 AM
By Alesya Davydova


US gas and oil producers cut job places
US gas and oil industry shows a decline of employment levels. Petroleum producers have cut 142,000 jobs as of May 2016 – that is a 26% drop since peak employment levels in October 2014, says citing a US Energy Information Administration press release.

Experts suppose that such a decline may mirror the oil and gas rig count, which fell from 1800 rigs in autumn 2014 to 404 rigs in May 2016.
The average drop in employment over the above mentioned 20-month period is 7,100 per month, which comparable with the numbers of the 2008-2009 recession, when it was less than four thousands per month in a 13-month period.

 In May CNN experts published a top-list of the companies, most active in reducing their stuff number. Half of the CNN top ten turned out to be, not surprisingly, oil and gas producing companies. The leader of the “competition” became National Oilwell Varco, with 17,850 job places cut, then there were Schlumberger with 12,500; Halliburton with 10,200; Chevron with 7,500; and Weatherford International with 6,000.

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