Home / News / Low Energy Prices Prompt Oil Industry Layoffs
Frank A. Douglass Insurance Agency

Low Energy Prices Prompt Oil Industry Layoffs

Because of the downturn in energy prices, the oil industry appears to be the leader in the number of layoffs in 2015.

That follows years of employment gains in the industry.

As of last week, layoffs by U.S. based energy companies hit nearly 94,000 jobs so far this year.

John Griffin of the Associated Petroleum Industries in Michigan, notes that the U.S. is adding to the industry by being the second largest crude oil producer in the world.

And because of ample supplies, prices are down, motorists are happy, but jobs are being reduced.

Check Also

The Small Business Saturday Coupon Book in the Keweenaw Peninsula is nearly full

With holidays just around the corner, parents and kids only have a few opportunities to …