US oil and gas jobs see slight decline in December, maintain upward trajectory according to latest report

Jobs in the US oilfield experienced a slight decline, with a decrease of 941 jobs in the US oilfield services sector during December, according to preliminary data from the Bureau of Labor Statistics (BLS) after adjustments to November numbers and analysis by the Energy Workforce & Technology Council.

Compared to November, job availability across the sector decreased by 0.5%. 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 US 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,” said Energy Workforce President Molly Determan. “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.”