Industry expected to shed 24,400 jobs in 2016

A new report by PetroLMI, a division of Calgary-based Enform, predicts the oil and gas industry will continue to shed tens of thousands of jobs this year.

The study said that the industry will not return to its 2014 employment peak even after the economy comes back. It predicts another 24,400 oil and gas jobs will be lost this year, bringing the total figures of industry unemployed to between 44,700 and 52,600 since the downturn began.

The oil and gas economy is predicted to rebound in 2017.

(Written by: N. Reitmayer; Original information source: Calgary Herald