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My friend signed up for the oil fields back in mid 2000s. Pay was good, but they eventually got to a point where they didn’t need the extra prod and laid him an
by artificialLimbs 4y ago
My friend signed up for the oil fields back in mid 2000s. Pay was good, but they eventually got to a point where they didn’t need the extra prod and laid him and a bunch off. Might be a contributor to their current problem.
- Fargoan 4y agoThat's how it always goes. There's always a boom and bust in the oil industry.
- Frost1x 4y agoI'd say it's not exclusive to any industry, there's a push for all industries to have highly elastic labor forces to adjust labor costs with even slight variances in demand. Many of the labor shortages we see are a result of industries adopting business models that want high labor elasticity.
- Fargoan 4y agoThe oil industry is an extreme example. Everyone getting into it should know that. I've lived in North Dakota for most of my life and have seen it a couple of times.