Employment in the U.S. oilfield services and equipment sector increased by 45 jobs, remaining steady as the labor market slowed in June.
The continued gains bring the sector to its highest level since March of 2020 to reach 665,258 in June, according to preliminary data from the Bureau of Labor Statistics (BLS) after adjustments to May numbers and analysis by Energy Workforce & Technology Council. Gains in June were made in three of the seven categories tracked by Energy Workforce. Hiring across the sector continues to bring it closer to pre-pandemic numbers of 706,528 in February 2020.
Overall, U.S. employers added 209,000, less than expected and well below the revised number of 306,000 added in May, representing a cooling in the labor market. The overall participation rate remained at 62.6% in June with the overall unemployment rate ticking down slightly to 3.6% from 3.7% in June. Education and health, and government sectors led with the most gains, while construction, leisure and hospitality, business services and manufacturing had much lower numbers of jobs added. Retail was the only category to experience a loss.
“While overall the labor market is cooling and the jobs market is tight, the oilfield services sector is still hiring. Our sector provides exciting and challenging career opportunities in an industry at the forefront of creating new technology that is revolutionizing how we power the world. The reliable, affordable energy provided by the U.S. oil and gas industry helps bring people out of energy poverty and provides our nation and our allies with energy security.”Molly Determan, President, Energy Workforce & Technology Council
June State-by-State Breakdown