Lower Oil Poses Bigger Risk for U.S. Workforce: Chart of the Day
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Falling oil prices may have more of an effect on U.S. employment than they did when crude tumbled six years ago, according to Nicholas Colas, chief market strategist at Convergex.
As the CHART OF THE DAY shows, oil and gas jobs are a greater percentage of the U.S. labor force this year than in 2008, according to data compiled by the Labor Department. The comparison reflects the number of workers in energy extraction, field machinery, pipeline construction and support activities. Colas added a fifth classification, oil and gas well drilling, in a report published yesterday.