HOUSTON- Today, Energy Workforce & Technology Council released their monthly jobs report, indicating signs of improvement in job availability across the industry.
In March 2024, the U.S. oilfield services sector saw a modest uptick in employment, with a gain of 2,963 jobs, according to preliminary data from the Bureau of Labor Statistics (BLS). This increase, after revisions to January data and analysis conducted by the Energy Workforce & Technology Council, reflects a positive trend in the industry’s workforce growth.
While industry jobs are down by approximately 500 on a year-to-year comparison, the outlook for 2024 appears promising, with gains observed on a month-to-month basis. Nationally, the U.S. economy added 303,000 jobs in March, contributing to a slight decline in the unemployment rate to 3.8 percent according to BLS.
Recent remarks from Federal Reserve Chairman Jay Powell indicated that labor supply significantly increased in 2023, in due part to rising participation amongst the 25-54-year-old age range. This demographic is increasingly finding opportunities in the energy industry, particularly Gen Z. Their participation not only bolsters our current workforce but also signals a promising future for the industry, especially in the trade sector.
“In an energy landscape traditionally marked by economic shifts, the energy industry is showing signs of improvement in job availability for the energy services sector. The growing participation of younger generations helps grow our workforce and indicates a bright future. Energy Workforce & Technology Council remains dedicated to fostering innovation and empowering our workforce to meet the demands of tomorrow’s energy needs,” said Energy Workforce President Molly Determan.
State by State Breakdown:
| TX | 319,945 |
| LA | 54,823 |
| OK | 49,965 |
| CO | 26,657 |
| NM | 24,556 |
| CA | 24,030 |
| PA | 23,768 |
| ND | 20,419 |
| WY | 15,232 |
| OH | 10,899 |
| AK | 10,177 |
| WV | 10,045 |
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Karina Erickson, Communications Director, writes about the Energy Workforce & Technology Council. Click here to subscribe to the Energy Workforce newsletter, which highlights sector-specific issues, best practices, activities and more.
