USA Oilfield Services Sector Employment Rises in July

USA Oilfield Services Sector Employment Rises in July
U.S. oilfield services and equipment sector employment rose by over 7,100 jobs in July, according to the Bureau of Labor Statistics.

United States Bureau of Labor Statistics (BLS) released preliminary employment data, showing a jump in employment in the U.S. oilfield services and equipment sector. Citing the data, Energy Workforce & Technology Council notes that employment rose by an estimated 7,131 jobs to 643,092 in July, with June numbers adjusted to 635,960. 

Gains in July were made in all seven categories tracked, with the largest gains coming in support activities in mining (oil and gas share) and oil and gas extraction.

The data reported is the highest since September 2021 when total jobs rebounded to 643,057, but still off the pre-pandemic mark in February 2020 of 706,528. The growth in July comes as overall U.S. employers added 528,000 jobs, far outperforming expectations. The unemployment rate also improved slightly to 3.5 percent, matching a 50-year low reached in early 2020. Job increases were seen in all categories.

“The July job increases are very encouraging as our sector continues to rebuild the workforce from pandemic losses,” said Energy Workforce & Technology Council CEO Leslie Beyer. “Our industry is meeting the challenge of growing global demand by producing at almost pre-pandemic levels, reducing emissions industry-wide, all while continuing to make gains in the workforce. Without the powerhouse of American energy, the world suffers, the economy suffers, and millions of people face energy and food insecurity.”

Employment figures for July 2022 show that the majority of the workforce is located in Texas (313,379), followed by Louisiana (53,698), Oklahoma (48,939), Colorado (26,110), New Mexico (24,052), California (23,537), Pennsylvania (23,280), North Dakota (20,000), Wyoming (14,920), Ohio (10,675), Arkansas (9,968) and West Virginia (9,839).

Energy Workforce is the national trade association for the global energy technology and services sector representing 600,000 jobs in the technology-driven energy value chain. Member companies are involved in energy equipment manufacturing, drilling, well completions, well services, pressure pumping, renewable energy technology and servicing, geothermal development, and more.

Energy technology and services sector employment are estimated by analyzing data published by the U.S. Bureau of Labor Statistics and covers the economic activities of energy technology and services companies, which include oil and gas extraction, construction, and manufacturing. Total employment is estimated using the Quarterly Census of Employment and Wages, published by BLS, and jobs data reported by BLS monthly.

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