Data from U.S. Bureau of Labor Statistics and Energy Workforce and Technology Council last week show continued improvement in employment growth in the oil and gas industry. The energy services sector now supports 647,636 jobs across the nation, and for the first time in 2024 the employment growth outpaced growth in 2023 (by about 450 jobs). The gain in June was 968 jobs.
Texas dominates with 315,593 jobs, according to the council, followed by Louisiana with 54,078, Oklahoma with 49,285, Colorado with 26,294 and New Mexico with 24,222.
U.S. economy added 206,000 jobs in June, but the unemployment rate climbed to 4.1 percent – highest since October 2021. The council said, “The energy service sector’s growth is particularly notable given the broader economic context of rising unemployment rates, suggesting a targeted rebound in energy-specific job markets.”
Molly Determan, president of the Houston-based council, said July 11, “This uptick in job growth … is a positive indicator for American energy production. Despite economic challenges spanning the national workforce, our sector continues to demonstrate robust growth, driven by advancements in technology and the continued global demand for American oil and gas.”