After almost two years of seeing jobs disappear, energy companies saw some good news emerge last month as the job rate remained steady in the month of September. With the stabilization of oil prices, the industry may finally be poised for job growth. Baker Hughes notes that in the third quarter (July-September) of this year, the industry added 95 drilling rigs, which makes for a total of 425. That number may seem small when compared with the rig count of 614 from the previous year; however, that increase was the industry’s first since 2014. From 2014 to 2015, energy companies in the United States cut spending, and moreover, cut approximately 220,000 jobs. But the spike in prices this year, which hit the crucial $50 per barrel mark, has helped to spur on a recovery. Those prices had, at one point last year, hit $30 per barrel, which was the […]

Posted in: USA