US energy experts warn that the oil spill in the Gulf of Mexico could cost up to 100,000 jobs as unemployment figures continue to rise in the state of Louisiana.

Figures released by the US Department of Labour showed how the unemployment rate in Louisiana rose 0.2 to 7 per cent, making it one of only five states in the US to see a rise in unemployment last month.

Analysts at Moody’s estimated that economic losses could total approx. 1.2 billion USD and cost the region 17,000 jobs if the flow is stopped for good next month, while more pessimistic estimates point to the loss of 100,000 jobs and 7.4 billion USD in economic losses if the oil spill continues until the end of 2010.

The BP Oil Spill catastrophe began April 20 after the explosion of the Deepwater Horizon oil rig that left 11 workers dead. BP engineers are currently testing a cap on the damaged deepwater well, while there is growing concern over hydrocarbon seepage that is threatening to leak into the bedrock and start another catastrophe.

Photo by International Bird Rescue Research Center (IBRRC).

Related news articles:

1. 491,000 US private sector jobs lost in April
2. 532,000 private sector jobs shed in May: ADP
3. US economy sheds 700,000 jobs in February
4. US unemployment hits 8.9 % as 539000 jobs lost
5. The US sees 742,000 jobs lost in March