Falling Oil Prices Impacting Oil and Gas Employment: This is Not Another Overall Business Cycle Decline

The downturn in energy employment, such as is occurring in the Houston area, shouldn't come as a surprise, given the collapse that has occurred in the price of oil. But some see this downward employment pressure in energy sector as a signal we are headed into another down phase of the business cycle, we are not at this time. The overall jobs market is strong and the downturn is pretty much limited to the energy sector.

-RW