Where U.S. fossil fuel companies are shedding jobs
Various fossil fuel industries shed a combined 118,000 jobs in the March-July period, per a BW Research analysis.
Why it matters: It's a window onto the effects of the coronavirus pandemic on the sector's workers.
- Production has declined substantially due to the collapse in demand and prices, although both have seen a partial recovery.
- "Oil lost the most workers of the fossil fuels, shedding 69,400 jobs or 17 percent of pre-COVID-19 employment. Most job losses were in extraction activities," it states.
Threat level: "While oil, gas, and coal jobs continued to shed during June’s job bump, Hispanic and Latino energy workers were hit the hardest, as 34 percent of derrick operators, rotary drill operators, and roustabouts in the U.S. are Hispanic/Latino," the report finds.
Of note: The analysis doesn't include "many temporarily furloughed or underemployed workers," BW notes.
- The company also analyzes job numbers in clean energy sectors.