(WO) — Employment in the U.S. oilfield services and equipment sector rose by an estimated 3,069 jobs to 652,090 in January, according to preliminary data from the Bureau of Labor Statistics (BLS) after adjustments to December numbers and analysis by the Energy Workforce & Technology Council (Energy Workforce).
December adjusted number of 649,022 is down slightly from the preliminary number of 650,587. Gains in November were made in four of the seven categories tracked by Energy Workforce.
The January increases make OFS employment the highest since March 2020, and continues to reach closer to the pre-pandemic numbers in February 2020 of 706,528. Overall, U.S. employers added 517,000 jobs, exceeding expectations and significantly higher than the 260,000 gains in December.
The participation rate remained relatively unchanged with a minimal increase to 62.4% in January. The overall unemployment rate dropped to 3.4%, the lowest level in 53 years. Leisure and hospitality employers led the January increases by adding 128,000 jobs, while construction (+25,000) and manufacturing (+19,000) added the fewest jobs.
“In January, our industry continued to add jobs to the energy workforce, moving closer to reaching pre-pandemic hiring levels,” said Energy Workforce & Technology Council CEO Leslie Beyer. “I am proud to advocate on behalf of the energy workforce. Even with fewer employees over the past three years, our industry has been able to meet the spikes in demand and is producing close to pre-pandemic levels all while developing new technology and deploying innovative production processes that are lowering emissions. I encourage those seeking a good paying, exciting career, with excellent growth opportunities to look at the energy industry.”
About the Energy Workforce & Technology Council
Energy Workforce is the national trade association for the global energy technology and services sector representing more than 650,000 U.S. jobs in the technology-driven energy value chain. Member companies are involved in energy equipment manufacturing, drilling, well completions, well services, pressure pumping, renewable energy technology and servicing, geothermal development, and more.
The innovative men and women who comprise this sector are leaders in developing and deploying innovative technologies on a global scale that increase efficiency, improve environmental performance, and reduce greenhouse gas emissions.
Energy technology and services sector employment is estimated by analyzing data published by the U.S. Bureau of Labor Statistics and covers the economic activities of energy technology and services companies, which include oil and gas extraction, construction and manufacturing. Total employment is estimated using the Quarterly Census of Employment and Wages, published by BLS, and jobs data reported by BLS monthly.
