Employment in the U.S. oilfield services, and equipment sector rose by an estimated 7,131 jobs to 643,092 in July, according to preliminary data from the Bureau of Labor Statistics (BLS) and analysis by the Energy Workforce & Technology Council (Council) and after adjustments to June numbers.
June adjusted number of 635,960 is up from the preliminary of 633,198. 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%, 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.”
July State-by-State Breakdown
This article was originally posted at www.worldoil.com