• 4 minutes Nord Stream 2 Halt Possible Over Navalny Poisoning
  • 8 minutes America Could Go Fully Electric Right Now
  • 11 minutes JP Morgan says investors should prepare for rising odds of Trump win
  • 3 hours US after 4 more years of Trump?
  • 1 hour Something wicked this way comes
  • 2 days Daniel Yergin Book is a Reality Check on Energy
  • 6 hours Why NG falling n crude up?
  • 3 hours Oil giants partner with environmental group to track Permian Basin's methane emissions
  • 3 days Permian in for Prosperous and Bright Future
  • 2 days Famine, Economic Collapse of China on the Horizon?
  • 3 days YPF to redeploy rigs in Vaca Muerta on export potential
  • 3 days Top HHS official takes leave of absence after Facebook rant about CDC conspiracies
  • 3 days Gepthermal fracking: how to confuse a greenie
  • 1 day The Perfect Solution To Remove Conflict Problems In The South China East Asia Sea
  • 1 hour Biden NOW says he supports Fracking
  • 2 days Open letter from Politico about US-russian relations
Oil & Gas 360

Oil & Gas 360

From our headquarters in Denver, Colorado, Oil & Gas 360® writes in-depth daily coverage of the North American and global oil and gas industry for…

More Info

Premium Content

The U.S. Oil And Gas Sector Is Growing Again

Overall U.S. unemployment rate down to 4.7 percent

The Bureau of Labor Statistics released its February employment report today, outlining the state of employment in the U.S. Total nonfarm payroll employment increased by 235,000 in February, decreasing the unemployment rate to 4.7 percent, from 4.8 percent in January.

(Click to enlarge)

Source: BLS

In the oil and gas extraction sector the BLS reported that employment increased by about 1 percent. According to the BLM, 178,700 people were employed in the oil and gas industry in February, up from 176,900 in January. This is the highest employment in the sector since May last year.

Employment in the oil and gas industry peaked in October 2014, at an estimated 200,800. This was the highest level seen since the previous major industry downturn in 1986. The industry downturn meant that employment decreased steadily until July 2016, when it flattened out at about 178,000. Employment has been mostly flat since then, with little significant change.

(Click to enlarge)

Data: BLS, Graph: EnerCom

While companies have begun to ramp up activity in the past few months as commodity prices improved. This has not yet translated to significantly improved employment numbers in the sector. This increased activity should become visible in employment data in the next few months. The Permian basin has seen especially large amounts of activity in recent months, as many companies buy in or ramp up operations.

By Oil and Gas 360

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News