Employment in the U.S. oil-field services and equipment sector rose by an estimated 1,352 jobs in April as oil and gas companies brought more rigs online to meet crude demand recovering from the pandemic.
The monthly jobs report published by the Energy Workforce & Technology Council, an industry trade group, estimates that 102,000 jobs were lost during the pandemic last year, representing annual wages of about $15 billion. Since then, the sector has added more than 19,000 jobs, but employment in the sector is still 10.5 percent below pre-pandemic levels.
The oil-field services sector has been among the industry’s hardest hit during the pandemic, which slashed demand for oil and products such as gasoline and jet fuel. Many exploration and production companies, which hire oil-field services firms, stopped drilling new wells and halted production from existing wells for several months last year.
The sector shed nearly 27,300 jobs in April 2020, the largest one-month total since at least 2013, when crude prices fell into negative territory for the first time.
RECOVERY: Exxon, Chevron return to solid footing
Oil-field sector employment has grown 2.9 percent so far this year as the rollout of coronavirus vaccines has lifted local economies, boosting demand for gasoline and jet fuel. U.S. drillers have added more than 200 rigs since the number of operating rigs fell to a low of 244 in August, according to oil-field services firm Baker Hughes.
The council cautioned, however, that its April jobs report is based on preliminary data from the Bureau of Labor Statistics, which is subject to routine revisions. Revised figures for March reduced the number of jobs added to 18,000 from 23,000 jobs.
In total, oil-field services companies have restored about 28,000 positions, reducing the pandemic-related job cuts to 74,000 jobs and more than $8.4 billion in annual wages. There are more than 600,000 employees in the oil-field services and equipment sector nationally, including more than 314,000 in Texas.
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May 10, 2021 at 11:41PM
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Oil-field services companies add hundreds more jobs - Houston Chronicle
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