Jobs in the U.S. oilfield services sector has experienced a rise in 2023, compared to the numbers a year before, though the last month of the year has witnessed a slight decline, according to the analysis by the Energy Workforce & Technology Council.
Jobs in the U.S. oilfield experienced a slight decline, with a decrease of 941 jobs in the U.S. oilfield services sector during December 2023, according to preliminary data from the Bureau of Labor Statistics (BLS) after adjustments to November numbers.
Compared to November, job availability across the sector decreased by 0.5%, the Energy Workforce & Technology Council said.
While the market continues to recover from the pandemic, adjusted numbers for 2023 indicate that the energy services sector is still on an upward trajectory, with job availability rising compared to 2022.
At the market's December 2022 peak, 648,679 jobs were reported in the energy services sector, while December 2023 indicated 648,933 jobs.
Nationally, the U.S. unemployment rate held steady at 3.7%. Reports indicate that national post-pandemic job recovery slowed. However, it did not sink into the widely anticipated downturn forecasted in early 2023.
“The US energy sector remains a lucrative industry for those seeking to make an impact on global energy demand. There is no doubt that our industry continues its recovery, and despite market fluctuations, we are optimistic for the future of energy production as we enter into the first month of 2024,” said Molly Determan, Energy Workforce President.
Energy Workforce & Technology Council 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.