Oil Field Jobs and Pay Drop as US Shale Consolidation Takes Hold

The number of workers in US oil fields and the amount they’re paid have now fallen for two straight months to their lowest levels this year, indicating the wave of mergers and acquisitions in the sector are taking a toll on employment.

The overall number of front-line US oil and gas workers fell 1.2% on a month-over-month basis to 118,400 in August, according to a Labor Department report released Friday. The jobless rate in oil and natural gas rose to 3.5% in August on an unadjusted basis, compared with 2.5% a year earlier.