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What the Dallas Fed Quarterly Report means for Eagle Ford shale jobs

oil rig by Pixabay

On June 29th the latest quarterly report released by the Federal Reserve Bank of Dallas addressed the capital spending, costs, production levels, employment and overall current business activities of energy companies from Louisiana, New Mexico and Texas. From approximately 200 gas and oil companies surveyed, 42 percent stated that they expect their employment levels to remain consistent with those of ...

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Maryland’s minimum wage to rise 50 cents to $8.75

ANNAPOLIS, Md. (AP) — Maryland’s minimum wage and the state’s gas tax are going up. Here’s a look at some new laws that take effect Friday: MINIMUM WAGE Maryland’s minimum wage will rise from $8.25 to $8.75. It’s the latest bump scheduled to take effect since lawmakers in 2014 approved increases over several years from $7.25. It is scheduled to ...

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Website, job fair set up to help laid-off oil, gas workers

BATON ROUGE, La. (AP) — An effort is underway in the Bayou Region ofLouisiana to help workers affected by oil and gas industry downsizing to find training options and new jobs in south Louisiana. BayouOpportunity.com, a new website, will serve as a gateway to employment opportunities. A news release says job seekers can register there for an Industrial Trades Job ...

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Shell to cut at least another 2,200 jobs globally

Shell expects 4th Q profits to drop at least 40 percent

LONDON (AP) — Anglo-Dutch oil company Royal Dutch Shell says it will trim at least 2,200 jobs globally amid challenging times in the oil industry. The losses are in addition to cuts already being implemented because of the energy company’s merger with BG. The losses will include some 475 positions in the North Sea. Oil companies around the world are ...

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US employers added 160K jobs in April; jobless rate 5 pct.

WASHINGTON (AP) — U.S. employers pulled back on hiring in April, adding 160,000 jobs, the fewest in seven months, after a streak of robust monthly gains. The unemployment rate remained at a low 5 percent, roughly where it has been since fall. Last month’s hiring gain marked a drop from the average increase of 200,000 over the past three months. ...

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Layoffs: Are they really the answer to your financial woes?

job cuts, layoffs, scissors

The energy industry has found itself in a time of financial hardship as oil prices have drastically dropped since the end of 2014. In order to avoid filing bankruptcy, leadership has taken a reactive step to the situation. This style of management speaks to leadership’s strategy, or lack thereof. The oil and gas industry is an industry with a cyclical ...

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Chevron announces more Houston job cuts

Chevron announces more Houston job cuts

Chevron plans to cut 655 Houston jobs as part of a payroll decrease across its upstream business. The California-based company confirmed the layoffs Thursday. Chevron previously stated it would cut its workforce by 4,000 this year. In 2015, The oil major reduced its workforce by 3,000. The total estimated cuts made up about 10 percent of the company’s workforce at ...

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Hiring rises in 36 US states in December

FILE - In this Tuesday, Oct. 6, 2015, file photo, job applicants fill out forms during a job fair at Dolphin Mall in Miami. On Tuesday, Jan. 26, 2016, the Labor Department reports on state unemployment rates for December 2015. (AP Photo/Wilfredo Lee, File)

WASHINGTON — Employers added jobs in 36 states last month, led by big gains in California, Texas and Florida, evidence that hiring remains solid nationwide. Low oil prices caused job losses in energy-rich states. THE NUMBERS: The widespread hiring helped push down unemployment rates in 25 states in December, with the sharpest drops occurring in Missouri and Oregon. The unemployment ...

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Spate of layoffs sweeps energy industry

Spate of layoffs sweeps energy industry

A sustained downturn led to thousands of layoffs this week as companies struggle to weather the prolonged energy market slump. Falling oil prices forced many producers to cut costs and streamline business. The International Energy Agency said oil prices may fall further this year due to low demand and an oversupply of crude. Schlumberger Schlumberger cut 10,000 jobs and reported ...

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Southwestern Energy to shed 1,100 jobs

Southwestern Energy to shed 1,100 jobs

Southwestern Energy Co. announced layoffs Thursday as drilling activity stalls. The Houston-based company will reduce its workforce by more than 40 percent, according to filings with the Securities and Exchange Commission. The oil and natural gas driller expects to shed 1,100 jobs as it copes with falling natural gas prices. About 300 of those laid off are part of Southwestern’s ...

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