January Another Steady Month for US Oil, Gas Jobs
The outlook for oil and gas employment in the United States is looking better each month. Data from the Bureau of Labor Statistics released Feb. 3 shows that mining employment remained relatively unchanged in January, the fifth consecutive month for steady employment.
Specifically, jobs in oil and gas extraction increased by 100 in January. Support activities for mining, which includes oil and gas, saw an uptick in January as well (3,000 jobs). This is a far cry from the job losses the industry saw for two-and-a-half years prior, when depressed crude oil prices prompted severe cost-cutting from companies and hundreds of thousands of layoffs globally.
More recently, production cuts from OPEC and non-OPEC members, rising crude oil prices and drilling in the Permian Basin has helped shift sentiments among workers to being more positive.
In January, Texas oil economist Karr Ingham said 104,000 oil and gas jobs had been shed in Texas alone from December 2014 to October 2016. But he said the bloodbath is over and better days are ahead for the industry in 2017.
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