Employment in the U.S. oilfield services and equipment sector dipped slightly by 271 jobs to 651,837 in February, according to preliminary data from the Bureau of Labor Statistics (BLS) after adjustments to January numbers and analysis by the Energy Workforce & Technology Council (Energy Workforce). January adjusted number of 652,108 is up slightly from the preliminary number of 652,090. Gains in February were made in four of the seven categories tracked by Energy Workforce.
The February decrease is the first loss since August 2022, when the sector lost roughly 2,000 jobs but rebounded the following month. The sector continues to near pre-pandemic numbers from 706,528 in February 2020. Overall, U.S. employers added 311,000 jobs, lower than the 517,000 jobs added in January, but still exceeding expectations. The participation rate remained relatively unchanged with a minimal increase to 62.5% in February, and the overall unemployment rate ticked up to 3.6% from 3.4%. Leisure and hospitality, retail, healthcare and construction employers added workers in February, while transportation and warehousing, finance and manufacturing cut employees.
“This past month, energy workforce numbers remained relatively flat as the sector seeks to add workers across America to meet the growing global demand for energy,” Energy Workforce & Technology Council CEO Leslie Beyer said. “With fewer employees over the past three years, our industry has been able to meet the spikes in demand and is producing close to pre-pandemic levels, all while developing new technology and deploying innovative production processes that are lowering emissions. I am proud of our industry, that always exceeds expectations.”Leslie Beyer, CEO, Energy Workforce & Technology Council
February State-by-State Breakdown