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oil layoffs

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Here's How Bad Energy Sector Layoffs Are in 2015

By , Contributing Writer, Money Morning -

oil rig count

Slumping oil prices have been a benefit at the pumps, but its wreaking havoc on our nation's energy workforce.

Amid a 55% plunge in crude oil prices since last June, there have been roughly 91,000 energy sector layoffs announced since late December.

Warnings about unstainable debt held by energy companies and a burst of bankruptcies are expected to result in more pink slips.

Here's why that's so troublesome for the U.S. economy...