Monday, September 20, 2021
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Revised data show oil, gas job losses steeper than thought

🕐 1 min read

HOUSTON (AP) — Revised federal labor statistics show the Houston metro region lost more than 81,000 oil and gas jobs during the downturn in the energy sector, which is nearly 14,000 more jobs than originally believed.

The job losses in 2015 and 2016 are seen as representing the worst downturn in the energy sector in 30 years.

The Houston Chronicle reports (http://bit.ly/2mWgtIQ ) that more than 100 companies went bankrupt in Texas and capital expenditures shrunk by more than half.

Revised data from the U.S. Labor Department shows the region added just 200 jobs in 2015, far below the 15,200 initially reported by labor officials.

Many of the job gains at the time were in the fields of health care and petrochemical refining.

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Information from: Houston Chronicle, http://www.houstonchronicle.com

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