Job Market Monitor
Oil Industry
Canada’s Oil and Gas Industry – Could lose as many as 185,000 direct and indirect jobs
In 2014, the oil and gas industry spent more than $125 billion on exploration, development and production activities in Canada, supporting more than 720,000 direct and indirect jobs. With an anticipated $31 billion reduction in capital and operational expenditures in 2015, the Canadian economy could lose as many as 185,000 direct and indirect jobs related … Continue reading
Oil Industry – Mass layoffs complicate long-term plans
More than 100,000 layoffs have been announced across the industry worldwide since prices began to slide last summer, according to a tally kept by Bloomberg. In recent weeks other major service companies have announced job reductions. Halliburton announced it will cut 6,400 jobs (8 percent of its global workforce) while Schlumberger will eliminate 9,000 positions … Continue reading
Alberta – it’s going to be very hard to avoid a recession this year Conference Board of Canada’s chief economist says
With 0il prices plunging almost 6o per cent and job cuts mounting within companies like Suncor Energy and Shell Canada, the spectre of recession has suddenly emerged in Alberta. After gushing about the “superstar” local economy at a speech in Calgary last November, the Conference Board of Canada’s chief economist, Glen Hodgson, ominously warned this week that “it’s going to be very … Continue reading
East Africa – Skills Gap in oil industry
Nairobi – A shortage of trained oil and gas workers in East Africa is slowing development of new fields following a series of major discoveries and may force governments to relax rules requiring companies to employ local people. Governments are now investing in programmes to train skilled oil and gas workers, but they are hampered … Continue reading
Lack of skilled iraqi employees preventing oil industry progress
In a country where the unemployment rate has caused mass demonstrations, one local economist believes that Iraq lacks thousands of skilled workers for the oil industry – and that this is preventing progress in the all-important oil industry. It is the lack of skilled local labour in Iraq’s oil and gas industries that is preventing … Continue reading
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