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Oil Crash Cost American Oil Fields $4 Billion in Wages

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As the price of crude shows little sign of a resurgence to its levels from two years ago, some parts of America’s oil country are taking a much bigger hit than others.

When global oil prices crashed in late 2014, U.S. oil fields braced for lost jobs and wages. So far, the oil bust has taken a $4 billion-dollar bite out of oil patch workers’ paychecks, according to the latest data available from the Bureau of Labor Statistics, with no recovery in sight.



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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

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