Texas Workforce Waffles

Texas Workforce Declines
Texas Workforce Declines

The instability in the oil industry is reeking havoc on the Texas workforce, according to recent information by the U.S. Bureau of Labor Statistics.

Related: Texas Economic Index Down

Since March, Texas has added jobs every month but many more people have left the labor force, causing many to speculate about what is going on.

Economists blame the shift on the fact that the oil and gas industry has cut many jobs since crude prices tanked last year and discouraged baby boomers are leaving the workforce. They also say that the bad news is trickling down into all areas of the economy.

Texas’ labor force has declined every month for the last six months — and by more than 100,000 people in June and July. That didn’t even happen back in the ’80s.
— Wells Fargo Senior Economist, Mark Vitner

Out of more than 1,100 counties across the U.S., Texas held top spots for both job creation and job losses. In 2014, there were 3,200 jobs created in Midland County, TX and 1,100 jobs lost in Harris County. Overall, Texas had five of the top 10 spots: Midland County, Bexar County, Frio County, Ector County, and Tarrant County.

Related: Texas Counties Dominate Job Growth

The Eagle Ford’s Frio County came in at the fifth spot and boasts an impressive growth of 1,100 new  oil and gas jobs with a small population of 18,500 people.