By : Franyi Sarmiento, Ph.D., Inspenet, July 14, 2022
Employment in the US oilfield equipment and services sector rose to 633,198 jobs in June, according to preliminary data from the Bureau of Labor Statistics (BLS) and analysis by the Energy Workforce & Technology Council.
May’s adjusted number of 628,190 is down from the preliminary of 628,793. June gains were made in five of the seven categories tracked, with the biggest gains coming in mining support activities (oil and gas share) and oil and gas extraction. Slight losses were observed in the manufacture of petroleum and coal products, and in the manufacture of metal products.
The reported data is the highest since September 2021, when total jobs rebounded to 643,057, but is still off the pre-pandemic February 2020 mark of 706,528. The growth in June comes as US employers overall added 372,000 jobs and the unemployment rate remains at 3.6%. Job gains were mainly in healthcare, leisure and hospitality in June.
“It’s encouraging to see job growth continue to pick up in the sector,” said Leslie Beyer, CEO of the Energy Workforce & Technology Council. “With eight consecutive months of workforce gains, I am optimistic that our industry is up to the challenge of meeting growing global demand by increasing domestic production and reducing global emissions.”
“Without the power of American energy, the world suffers, the economy suffers, and millions of people face energy and food insecurity. We can unleash our domestic production as we move toward a lower-carbon future when our leaders focus on expanding opportunity across our nation’s energy resources rather than taking steps to limit access,” he said.
This Petrobanca portal material was edited for clarity, style and length.
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