Bureau of Labor Statistics says 150K jobs are lost with 10 percent oil price rise; ethanol may save up to 200K jobs

In Washington, the US Bureau of Labor Staistics reported that every time oil prices go up 10 percent, 150,000 US jobs are lost, and said that “Employment has fallen by 1.2 million in the first 10 months of 2008; over half of the decrease has occurred in the past 3 months.”

Using figures developed by an Iowa State University study that concluded that ethanol is holding down the price of gasoline by 29 to 40 cents per gallon, the study suggests that ethanol directly saved the US economy as many as 200,000 jobs, in addition to saving the average US household $350 in annual fuel costs.

Free Subscription to the Daily Biofuels Digest e-newsletter

Related Stories

Bureau of Labor Statistics says food price increases in line with historic trendline

A study by the Bureau of Labor Statistics showed that the price increase for milk, cheese, meat, ice cream, eggs and malt beverages in April 2006 with April 2007 was 3.0 percent, vs a 25-year annual i...

UN publishes “Green Jobs” report; says 700,000 employed in US, Brazilian ethanol industry

The United Nations has published a report, “Green Jobs: Towards Decent work in a Sustainable, Low-Carbon World”, estimating that 700,000 workers are employed in the ethanol industry in the US and ...

US Mayors report projects 1.5 million new alt fuel jobs by 2038

The US Conference of Mayors released a "Current and Potential Green Jobs in the U.S. Economy" report that projected 1.5 million new jobs by 2038 in the alternative fuels sector. The report projected 1...

Today in Biofuels Opinion: “Every green job created in eight years by the Spanish government came at the expense of 2.2 regular jobs lost.”

"House Minority Leader John Boehner previously estimated one green-job bill “would spend a whopping $275,000 in taxpayer dollars for every new job it aims to create,” effectively taxing each U.S. ...

Apollo Alliance proposes New Apollo program for green energy, jobs, technology

[caption id="attachment_8161" align="alignright" width="290" caption="Senator Debbie Stabenow (D-MI) will introduce landmark clean energy bill"][/caption]In California, the Apollo Alliance of business...

Pew Charitable Trusts reports 770,000 green jobs in ‘07, growing nearly three times as fast as mainstream job sectors

In Washington, the Pew Charitable Trusts released its Clean Energy Economy report, the first state-by-state survey of green-collar jobs. Pew found that green-collar job hiring increased 9 percent betw...