Tulsa employment in relations to the energy sector

By Alex Stephens

It is no secret that Tulsa is and has been a historically favorite location for the oil industry. Aside from the countless energy companies that have offices downtown one can even see numerous pumps as they drive in or out of Tulsa.

For this very reason  it might not come as a very large surprise that the unemployment rate has gone from 3.9 in December to 4.3 in January and finally since it was last collected to 4.7 in February. As many know virtually all energy corporations have been seeing a stead decrease in business over the last year. This has inevitably caused many companies to have to lay off countless employees to avoid going under like so many other companies.

Although in an article about energy related jobs in the Tulsa area a VP for QPS energy stated that they are not too worried because "the oil business always comes back". This is historically true. The industry like most other capitalistic endeavors is cyclical by nature. It goes up like it goes down and it in turn leads to an unpleasant waiting games.

This severe drop in prices of crude oil to $35 a barrel as well as the rig count dropping under 500 does however leave a convoluted situation that people involved can't help but ponder.

http://www.bls.gov/eag/eag.ok_tulsa_msa.htm