Employment in the U.S. oilfield services and equipment sector increased by 2,907 jobs to its highest level since March of 2020 to reach 656,368 in March, according to preliminary data from the Bureau of Labor Statistics (BLS) after adjustments to February numbers and analysis by Energy Workforce. February’s adjusted number of 653,461 is up slightly from the preliminary number of 652,108. Gains in March were made in four of the seven categories tracked by Energy Workforce.
The March increase continues to bring the sector closer to pre-pandemic numbers of 706,528 in February 2020. Overall, U.S. employers added 236,000 jobs, lower than the 311,000 jobs added in February. The participation rate remained relatively unchanged with a minimal increase to 62.6% in March, and the overall unemployment rate ticked down to 3.5% from 3.6%. Leisure and hospitality, education and healthcare, government, and business services added workers in March while manufacturing, construction and retail all lost employees.
“This past month, energy workforce job numbers increased to their highest level since March 2020,” Energy Workforce & Technology Council CEO Leslie Beyer said. “This is welcome news as our industry is exceeding expectations by meeting spikes in demand and producing close to pre-pandemic levels all while developing new technology and deploying innovative production processes that are lowering emissions. The oilfield services sector continues to build its workforce as it works to continue to meet ever growing global demand.”Leslie Beyer, CEO, Energy Workforce & Technology Council
March State-by-State Breakdown