Upward Trend in U.S. Oil and Gas Jobs Indicates Industry Resilience

Tuesday, December 12, 2023 Edit this post

By IndraStra Global News Team

Cover Image Attribute: Photo by Aron Razif via Pexel
 
The U.S. oil and gas industry has shown robust resilience and growth, as indicated by the latest Energy Workforce & Technology Council report. November saw a notable surge of 1,286 jobs within the oilfield services sector, reflecting a positive trend in the industry's employment landscape. This growth, analyzed through preliminary data from the Bureau of Labor Statistics (BLS), follows recalibrations to October figures and extensive examination by the Energy Workforce & Technology Council.

Comparing the job market from October, there was a 0.2% increase in job availability across the oilfield services sector. Notably, this continuous addition of jobs has been observed in ten out of the 11 months, showcasing consistent growth. However, juxtaposing the industry's pre-pandemic state, there remains a disparity as the industry currently houses 652,398 jobs in the energy services and technology sector, compared to the 705,481 jobs pre-pandemic. The analysis indicates a shortfall of only 54,130 jobs to reach pre-pandemic employment levels.

Nationally, the U.S. unemployment rate has shown a decline, standing at 3.7% compared to the previous month's 3.9%. This decrease in unemployment has been attributed to various factors such as government hiring, seasonal labor, and the resolution of two significant labor strikes, contributing to enhanced employment opportunities across the country.

Molly Determan, President of the Energy Workforce, emphasized the significance of this latest report, attributing the surge in jobs directly to the oil and gas industry's adaptability and determination. Determan highlighted that these statistics underscore the industry's steadfast commitment to growth in the face of evolving challenges.

A detailed state-wise analysis provided by the Energy Workforce offers a breakdown of oil and gas job rates across the United States:

- Texas (TX): 317,287
- Louisiana (LA): 54,368
- Oklahoma (OK): 49,550
- Colorado (CO): 26,435
- New Mexico (NM): 24,352
- California (CA): 23,831
- Pennsylvania (PA): 23,570
- North Dakota (ND): 20,250
- Wyoming (WY): 15,106
- Ohio (OH): 10,808
- Alaska (AK): 10,092
- West Virginia (WV): 9,962

This state-by-state analysis offers a comprehensive view of the distribution of oil and gas jobs across the nation, with Texas leading the chart with the highest number of jobs.



EDITORIAL NOTE: The surge in oil and gas jobs reflects a positive trend in an industry that has faced significant challenges due to the pandemic and other market forces. The adaptability and determination of the sector have played a pivotal role in sustaining and regaining employment levels, showcasing resilience amid economic fluctuations. The ongoing growth in employment within the oil and gas industry stands as a promising indicator for both the sector and the broader economy, signifying potential stability and recovery in the months ahead.

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IndraStra Global: Upward Trend in U.S. Oil and Gas Jobs Indicates Industry Resilience
Upward Trend in U.S. Oil and Gas Jobs Indicates Industry Resilience
By IndraStra Global News Team
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