Posted on 03/05/2015 7:31:58 AM PST by SeekAndFind
Lots of layoffs here in the oil patch. Major service companies shedding workers, small contractors who bought new equipment are finding themselves having it repossessed for non-payment. Our small company has laid off 20% of our workers and the rest are required to take a 20% pay cut.
While the rest of the country celebrates low gas prices, the trickle down effect in the oil industry leads to less jobs for others who rely on those workers to support locally-based small businesses such as stores and construction. All leads to a rise in unemployment claims and a continuing stagnant economy.
Obvious solution = more taxes and regulations (sarcasm)
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