Energy Workforce: Oil field service, equipment sector employment increased to highest level since March 2020
(WO) — Employment in the U.S. oil field services and equipment sector increased by 4,385 jobs to its highest level since March of 2020 to reach 665,213 in May, according to preliminary data from the Bureau of Labor Statistics (BLS) after adjustments to April numbers and analysis by the Energy Workforce & Technology Council (Energy Workforce).
April’s adjusted number of 660,828 is down slightly from the preliminary number of 662,454. Gains in May were made in four of the seven categories tracked by Energy Workforce. The sector has added 35,937 jobs in the past 12 months and the May increase continues to bring the sector closer to pre-pandemic numbers of 706,528 in February 2020.
Overall, U.S. employers added 339,000, adding more jobs than expected and higher than the revised total of 294,000 jobs added in April. The overall participation rate remained at 62.6% in May. Among workers aged 25 to 54, the participation rate rose to 83.4%, the highest level seen since 2007.
The overall unemployment rate ticked up slightly to 3.7% from 3.4% in April. Education and health, business services, and government led with the most gains in May with leisure and hospitality, construction, and retail all showing gains. Manufacturing was the only category to experience a loss.
“The oil field services sector is thriving and welcoming new talent across numerous specialties. For the past year, our sector has added almost 40,000 jobs, and it is still hiring,” said Energy Workforce & Technology Council CEO Leslie Beyer. “Our sector is in the forefront of creating new technology that is revolutionizing the industry, reducing emissions and streamlining production, providing exciting and challenging career opportunities. At the same time, the industry is powering the world with reliable, affordable energy, helping bring people out of energy poverty and providing our nation and our allies with energy security.”
May state-by-state breakdown
TX- 324,158
LA- 55,545
OK-50,623
CO- 27,008
NM- 24,879
CA- 24,347
PA- 24,081
ND- 20,688
WY- 15,433
OH- 11,043
AK- 10,311
WV- 10,178
Energy Workforce is the national trade association for the global energy technology and services sector representing more than 665,000 U.S. 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 is 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.
