Oilpatch to lose 185,000 jobs? Probably not, says economist
A report says the Canadian economy could lose as many as 185,000 direct and indirect jobs related to the oil and gas industry in 2015, with most of the job losses being in Alberta.
"If oil prices continue to remain low, we anticipate additional reductions to spending and jobs before things start to turn around," said Carol Howes, the director of the PetroLMI division of Enform in a news release.
Enform is an arm of six lobby groups representing the oil and gas industry, including the CAPP and the CEPA.
Enform predicts the biggest impact would be on oil and gas engineering construction firms, which do most of the work on development projects, accounting for up to 75,000 jobs.
Support services, such as drilling companies which are also involved in exploration, would represent another 26,00
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Submitted May 20, 2015 By: