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NEWS RELEASE

For Immediate Release: November 4, 2022
Contact: Corry Schiermeyer, Senior Director Communications
               Energy Workforce & Technology Council
               cschiermeyer@energyworkforce.org
 

October Employment Report: OFS Jobs Make Slight Gains as Nation Faces Tight Labor Market

HOUSTON, TX, November 4, 2022 — Employment in the U.S. oilfield services and equipment sector rose by an estimated 124 jobs to 640,282 in October, according to preliminary data from the Bureau of Labor Statistics (BLS) after adjustments to September numbers and analysis by the Energy Workforce & Technology Council (Energy Workforce). September adjusted number of 640,158 is down from the preliminary number of 640,767. Gains in October were made in four of the six categories tracked by Energy Workforce.
 
The October increases make OFS employment the highest since September 2021 numbers, but still off the pre-pandemic mark in February 2020 of 706,528. Overall, U.S. employers added 261,000 jobs, down from 315,000 in September, but better than the 200,000 economists had expected. The participation rate also took a slight dip, and the overall unemployment rate increased to 3.7% from 3.5%. While the labor market remains strong, it is cooling.
 
““Our workforce is at the forefront of developing new technology and deploying innovative production processes that are lowering emissions. The continued increases in our sector are encouraging, especially as gains across the country are declining,” said Energy Workforce & Technology Council CEO Leslie Beyer. “The industry is producing at almost pre-pandemic levels, with fewer employees and increased political hurdles. Further investments and a level regulatory landscape are needed to unlock the power of American energy, providing energy security for our nation and that of our allies while continuing to decrease global emissions and lowering energy costs.”

 

October State-by-State Breakdown 

STATE

2022

TX

312,009

LA

53,464

OK

48,725

CO

25,995

NM

23,947

CA

23,434

PA

23,178

ND

19,913

WY

14,855

OH

10,629

AK

9,924

WV

9,796

 


 

Energy Workforce is the national trade association for the global energy technology and services sector representing 600,000 U.S. jobs in the technology-driven energy value chain. Member companies are involved in energy equipment manufacturing, drilling, well completions, well services, pressure pumping, renewable energy technology and servicing, geothermal development, and more. 

The innovative men and women who comprise this sector are leaders in developing and deploying innovative technologies on a global scale that increase efficiency, improve environmental performance, and reduce greenhouse gas emissions.

Energy technology and services sector employment is estimated by analyzing data published by the U.S. Bureau of Labor Statistics and covers the economic activities of energy technology and services companies, which include oil and gas extraction, construction and manufacturing. Total employment is estimated using the Quarterly Census of Employment and Wages, published by BLS, and jobs data reported by BLS monthly.

Note: BLS data is preliminary for the two most recent months and is subject to revision. The Council incorporates monthly totals according to BLS corrections, and updates the statistical model quarterly.


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About Energy Workforce & Technology Council
Energy Workforce & Technology Council is the national trade association for the global energy technology and services sector, representing more than 600,000 U.S. jobs. The Council works to advance member policy priorities and empower the energy workforce of the future.
Copyright © 2022 Energy Workforce & Technology Council, All rights reserved.


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