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Tuesday, September 27, 2022

Oilfield service sector added jobs in July for the fifth consecutive month

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Bureau of Labor Statistics BLS and Energy Workforce & Technology Council figures reveal that the United States’ energy technology and services sector generated 6,082 jobs in July, the fifth consecutive month.

Growth occurs, with the sector adding 32,000 employment in the four months prior, following a recent pandemic low of 591,413 workers. The sector has had growth over the past five months, resulting in an expected 38,255 additional jobs by 2021.

The Council anticipates that more than 115,000 jobs will be lost because of the rise of the next pandemic. The losses have since been reversed, with the industry having added 38,300 jobs, and pandemic losses overall having reached 76,800 jobs and $8.7 billion in lost yearly pay.

In cooperation with experts from the Hobby School of Public Affairs at the University of Houston, the Council used BLS data to discover that the biggest number of employment cuts occurred in April 2020, when the sector dropped 57,294 positions.

Total job growth for this sector is expected to be 0.4% annually through 2021 as corporations place greater emphasis on decreasing debt, repaying investors, and investing in R&D over production. Since the beginning of the pandemic in March of 2020, employment in the sector has fallen 10.9 percent.

These are the states with the highest levels of employment in the energy technology and services sector, together with projections for July 2021 versus July 2020 showing how many more jobs will be available in that period:

Texas — 306,800 jobs, +9,740 new positions

What Louisiana does: 1,670 ahead; 52,580 behind

at 47,920 and +1,520 total

26,570, +820

New Mexico: 23,550 people more and 750 people fewer.

Population in the State of California -23,050, +730

rising from 22,800 to about 7,200.

“Nearly 200,000 more people have moved to North Dakota since 2015.”

Welcome to Wyoming, the state of 14,600 and 4,600.

“10,450” plus “330” Ohio — “10,450”, +330

9,760 +310

—9,630, +310

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