New data released Tuesday by the Oklahoma Employment Securities Commission shows that state has lost about 500 mining industry jobs between December 2014 and January 2015.
Even though the mining sector reported a 0.8-percent decline in employment during that time, the sector grew by 4.7 percent. About 97 percent of the jobs in the industry are related to oil and gas drilling.
The Journal Record reports that the Federal Reserve Bank of Dallas, which studies the effects of commodity prices on the Texas oil and gas industry, used their model to analyze Oklahoma's energy industry.
The Dallas Fed says there is a possibility for about 5,000 to 20,000 job losses in the coming year, according to Lyn Gray, who is the chief economist for the commission.
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