Preliminary data from the Bureau of Labor Statistics (BLS) and analysis by the Energy Workforce & Technology Council (EWTC) shows a slight decrease—about 3,260 jobs—in oilfield services (OFS) sector employment. The data is based on BLS’ April jobs report, released on May 3.
However, EWTC, a national trade association for the global energy technology and services sector, said the OFS job market may still have potential for growth.
In April, the OFS sector reported 651,424 jobs, a slight decrease from March’s adjusted jobs report of 654,688.
The U.S. job market reported minimal gains at the national scale, with only 175,000 jobs added, according to BLS. The national unemployment rate ticked up from 3.8% to 3.9%.
“With market dynamics continually evolving, EWTC remains dedicated to fostering innovation and resilience within the energy services sector,” said EWTC President Molly Determan. “While our latest report aligns our sector with national employment trends, we see an opportunity to redouble our efforts to advance technology, upskill our workforce and drive sustainable growth.”
Recommended Reading
Remotely Controlled Well Completion Carried Out at SNEPCo’s Bonga Field
2024-02-27 - Optime Subsea, which supplied the operation’s remotely operated controls system, says its technology reduces equipment from transportation lists and reduces operation time.
E&P Highlights: April 8, 2024
2024-04-08 - Here’s a roundup of the latest E&P headlines, including new contract awards and a product launch.
E&P Highlights: May 6, 2024
2024-05-06 - Here’s a roundup of the latest E&P headlines, including technology milestones and new contract awards.
E&P Highlights: March 25, 2024
2024-03-25 - Here’s a roundup of the latest E&P headlines, including a FEED planned for Venus and new contract awards.
E&P Highlights: March 15, 2024
2024-03-15 - Here’s a roundup of the latest E&P headlines, including a new discovery and offshore contract awards.