How Many Oil Jobs Did Texas Lose in 1H?
According to the Texas Independent Producers and Royalty Owners (TIPRO) Association’s latest mid-year energy report, Texas has lost over 39,000 direct oil and natural gas jobs in the first half (1H) of 2020.
The report outlined that 321,455 Texans were directly employed by the oil and gas sector in 1H and revealed that this figure represented a decrease of approximately 39,514 net jobs over the previous year. Of the 39,514 job loss figure, 19,696 job cuts were registered in the support activities for oil and gas operations sector. The sector with the second highest job losses was shown to be oil and gas well drilling at 8,847 and the third was oil and gas field machinery and equipment manufacturing, which posted 6,002 job cuts.
The Texas oil and gas industry represented 40 percent of all oil and gas jobs in the United States in 1H, according to the report, which revealed that oil and gas jobs in Texas paid an annual average wage of $134,000. The annual payroll for the Texas oil and gas industry exceeded $43 billion in 1H, which marked a decrease of $400 million in direct oil and gas payroll compared to last year, the report outlined.
Despite the decline in overall employment, there were said to be an estimated 19,024 unique job postings for the Texas oil and gas industry in 1H. This represented less than half, on average, compared to the same period last year, the report revealed.
“Despite an unprecedented array of challenges facing our industry, the Texas oil and gas sector remains one of the most significant economic contributors in the Lone Star State, as evidenced by findings of the new midyear TIPRO report,” Eugene Garcia, the chairman of TIPRO and president of San Antonio-based Hurd Enterprises, said in an organization statement.
“In the first half of the year, the Texas oil and gas industry yet again accounted for 40 percent of all oil and gas jobs nationwide, and today is still the largest producer of oil and natural gas in the country by a substantial margin,” Garcia added.
TIPRO is one of the oldest and largest oil and natural gas advocacy non-profit organizations in the state of Texas, according to its website, which highlights that the group’s members produce 90 percent of the oil and natural gas in Texas.
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