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Economic Report: One bright spot in the March payroll data: energy jobs

Bloomberg
A refinery in Pennsylvania.

There was one bit of good news in an otherwise disappointing March jobs report: the mining sector added 11,000 jobs during the month.

Mining – the sector most closely associated with energy – has hemorrhaged jobs over the past two years, as the price of oil tumbled. A year ago at this time, the sector lost 18,000 jobs during the month.

But employment in the sector seems to have touched bottom last October. 35,000 jobs have been added since then.

Source: BLS/Haver
Mining sector employment has recovered.

Oil prices CLK7, +0.25% have recovered from its 2014 swoon, but hasn’t gained much so far this year.

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