US Jobs Report: Oil, Gas Adds Thousands of Jobs in March



US Jobs Report: Oil, Gas Adds Thousands of Jobs in March
The oil and gas industry continues to add jobs as industry optimism increases.

Coming off the heels of a strong start for the oil and gas industry in 2018, industry employment continues its positive upswing with the United States adding jobs in March, according to data released April 6 from the Bureau of Labor Statistics.

Mining saw employment increases to the tune of about 9,000 jobs. The majority of those gains came in the 6,000 jobs added in support activities for mining. Employment in oil and gas extraction, which fluctuated for the better part of 2017, increased by 2,000. Since a recent low in October 2016, mining employment has risen by 78,000 jobs.

While there have continued to be some layoff announcements, they are far fewer and the cuts aren’t as deep. Additionally, confidence in the industry has gone up, among CEOs and workers. Employers are finding new ways to utilize technology and adopting methods to digitize and automate their workforces.

A recent PwC survey of oil and gas CEOs found that 60 percent believe new strategic alliances or joint ventures would account for the growth of their companies in the next 12 months. And in late March, Saudi Aramco announced it would be partnering with 14 American companies, including oilfield service companies Schlumberger, BHGE and Halliburton.



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