(Repeats with no modifications. John Kemp is a Reuters market analyst. The views expressed are his personal)
By John Kemp
LONDON, Sept 11 (Reuters) – U.S. oil and fuel employment has began to fall as producers and repair corporations reply to the sharp decline in costs for the reason that fourth quarter of 2018.
The variety of jobs in “mining assist actions”, a class that features oil and fuel drilling, in addition to web site preparation and properly completion providers, has been drifting gently decrease since October 2018.
In August, employment was 2% decrease than in the identical month a 12 months earlier, and down by 4% from its current peak, in line with preliminary estimates printed by the U.S. Bureau of Labor Statistics on Friday.
Employment within the sub-category for “oil and fuel assist actions”, largely protecting web site work and completion providers, had fallen by round 11,000 jobs or 4% between October and July.
Oil and fuel employment is trending decrease because the trade adjusts to decrease petroleum and pure fuel costs and decrease ranges of exercise (tmsnrt.rs/2A7nRGw).
The variety of rigs…