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Purveyor

(29,876 posts) Tue Apr 21, 2015, 12:32 PM Apr 2015

March U.S. Job Losses Widespread, Led by Slump in Energy

10:05 AM EDT
April 21, 2015

Payrolls dropped in 31 U.S. states in March, led by a slump in energy producers such as Texas and Oklahoma. The unemployment rate fell in 23.

Payrolls in Texas decreased by 25,400, its first decline since September 2010 and the biggest since August 2009, figures from the Labor Department showed Tuesday in Washington. Oklahoma followed with 12,900 fewer jobs and employment in Pennsylvania fell by 12,700.

The plunge in fuel prices that began in the middle of 2014 has caused oil drillers and miners to cut workforces, prompting reductions among industries in the region. Rough winter weather at the start of the month could have led to job losses in other parts of the country.

“The oil-price plunge is creating pain for some states and gains for most,” said Neil Dutta, head of U.S. economics at Renaissance Macro Research LLC in New York. It “represents the transfer of income from oil-producing states to oil-consuming ones.”

The number of states showing a drop in employment last month was the highest since September 2010. The decrease in payrolls in Oklahoma was its worst performance since April 2009. Pennsylvania, which is the second-largest producer of natural gas in the U.S., had its biggest decline in almost three years.

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http://www.bloomberg.com/news/articles/2015-04-21/payrolls-fell-in-31-u-s-states-in-march-led-by-texas

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March U.S. Job Losses Widespread, Led by Slump in Energy (Original Post) Purveyor Apr 2015 OP

Misleading Title. The following subsection in that article explains the real situation stevenleser Apr 2015 #1

stevenleser

(32,886 posts)

1. Misleading Title. The following subsection in that article explains the real situation

Reply to Purveyor (Original post)

Tue Apr 21, 2015, 12:39 PM

Apr 2015

March Payrolls

The national report, released on April 3, showed payrolls climbed by 126,000 workers in March, following a 264,000 gain the prior month. The U.S. jobless rate held at 5.5 percent, the lowest level since May 2008, and worker earnings improved.

In the nationwide tally, job cuts last month spanned goods producers including factories, construction firms and the industries that support oil and gas well drilling, while manufacturing payrolls fell for the first time since July 2013.

Along with falling oil prices, the surge in the dollar, weaker foreign demand, and lingering delays in shipments from West Coast ports have taken a toll on factories.

Manufacturing output rose 0.1 percent in March, marking the first advance in four months, Federal Reserve data showed April 15. Total industrial production, which also includes utilities and mining, fell by the most since August 2012.

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