A number of large, Texas-based energy companies have recently announced job cuts, including 7,000 by Baker Hughes (BHI) and 9,000 by Schlumberger (SLB). Not all of those jobs cuts will take place in Texas, though it’s easy to see how at least a chunk of them will be.
“Slow job growth is inevitable in Texas,” Dahl wrote.
JPMorgan went as far as to predict Texas could fall into a recession.
Related: Cheap oil is killing my job
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