Proactive Investors - Run By Investors For Investors

US mining industry added 3,700 jobs in December while oil and gas extraction gained 300 positions

Gold Resource CEO Jason Reid cited a 'highly competitive' hiring environment
Nonfarm payrolls illustration
Total nonfarm payroll employment increased by 312,000 in December

The US mining industry increased employment by 3,700 jobs to 710,700 positions in December, the Labor Department reported Friday.

The Bureau of Labor Statistics said that the oil and gas extraction sector increased employment by 300 jobs to 154,700 positions.

READ: US mining jobs still buoyant as non-farm payroll figure comes in below expectations

The mining industry excluding oil and gas exploration increased its employment by 900 to 192,100.

The BLS said that coal mining jobs rose by 600 to 53,900 and that nonmetallic mineral mining and quarrying grew by 400 positions to 99,800. Metal ore mining, meanwhile, saw a decrease of 100 jobs to 38,400.

Support activities for mining saw an increase of 2,500 to 363,900.

"It is highly competitive to find and keep experienced employees," Gold Resource Corp (NYSEAMERICAN:GORO) CEO Jason Reid said in an e-mailed response to questions. "A large percentage of the industry is approaching retirement age, with fewer people entering the industry to replace them."

The Dow Jones Industrial Average rose 600 points as total non-farm payroll employment increased by 312,000 in December, well above consensus estimates of 177,000 jobs created.

The unemployment rate, however, increased to 3.9%, up from 3.7% in November.

–This story has been updated to add mining sector data and executive comment–

Contact Dennis Fitzgerald at [email protected]

View full PROAC profile View Profile

Proactiveinvestors Timeline

Related Articles

mobile marketing
April 02 2019
The merger is structured as an offer by Taptica that will see it owning 50.1% of the enlarged group and Rhythm One owning the remaining 49.9%
Live Company
June 13 2019
In June 2019 the company signed a five-year deal to create tours themed around properties owned by children’s television network Nickelodeon
March 22 2019
The healthcare-focused advisory group boasts good levels of forward bookings thanks to several new business wins at the beginning of 2019
Copyright ©, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use