Labor & Economic News Blog


Friday, February 06, 2015

Employment in California's oil towns suffers as prices plunge

Employment in California's oil towns suffers as prices plunge
Many Californians cheer the rapid fall of gasoline prices. But for those who rely on the oil industry for a paycheck, the last few months have been nerve-wracking. Oil companies have already cut nearly 22,000 jobs nationwide since the summer, when oil prices began plunging, according to outplacement firm Challenger, Gray & Christmas Inc. And if past price dives are any indication, more layoffs are coming.

 



<< Blog Home

 

This page is powered by Blogger. Isn't yours?