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Jobs on the rise: U.S. Oilfield Services Sector (OFS) sees Employment Increase

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A recent analysis conducted by the Houston-based Energy Workforce and Technology Council found out that employment in the U.S. oilfield services and equipment (OFS) sector increased by an estimated 1,352 jobs last month. In fact, the Council guided its conclusions on preliminary Bureau of Labor Statistics (BLS) data.

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Accordingly, this finding marks the second straight month of domestic OFS job gains. However, the initial April figure represents considerably more modest growth than the 18,212-job increase reported for March.

Jobs on the rise in the Petroleum Services Sector

“OFS sector employment has grown 2.9% in 2021 as companies completed drilling projects as vaccinations continue and demand rises,” the Council noted in a written statement.

Moreover, the 600-member OFS organization noted that BLS data show the sector has added more than 19,000 jobs in 2021. Nevertheless, optimistic scenarios are still far since the most recent OFS employment figure for the country – 632,472 jobs – is still 10.5% lower than pre-pandemic levels.

Therefore, OFS job losses from the pandemic peaked at an estimated 102,000 positions Council’s Oilfield Services, and Equipment Employment Report says.

Results by state

The report also concludes that the sector has recovered approximately 28,000 jobs since employment plummeted last year. Thus, bringing total pandemic-related job cuts to 74,000 – worth more than $8.4 billion in annualized lost wages.

Moreover, the organization reported that BLS data show Texas is by far the top state for oil and gas technology and services employment. Accordingly, it sees an estimated 314,100 jobs within the classification.

Just behind are Louisiana with 53,800 jobs and Oklahoma with 49,000. Other approximate oil and gas technology and services job counts for energy-producing states in April 2021 are; Colorado (26,200 jobs), New Mexico (24,100), California (23,600), Pennsylvania (23,300); North Dakota (20,000), Wyoming (14,900), Ohio (10,700), Alaska (10,000), and West Virginia (9,900).

Finally, the Council pointed out that BLS figures are preliminary for the two most recent months. Therefore, the results are still subject to revision.

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