Oil and Gas Industry Leads the Way in U.S. Job Creation
Quick…guess which industry has nine of the 11 fastest growing jobs in the U.S.? That’s right, the oil and gas industry. In fact, the six fastest growing jobs in the country for 2010-11 are all related to oil and gas extraction. In 2011, the o&g industry is projected to add 85,000 new jobs!
Ignored in the labor market morass is the fact that one industry in particular has shown strong labor market growth. According to a recent report by EMSI, an Idaho-based economics consulting firm, the oil and gas extraction industry has been adding jobs at a notable pace throughout the United States.
The six fastest growing jobs for 2010-11 are related to oil and gas extraction. This includes service unit operators, derrick operators and roustabouts. Each is expected to grow anywhere from 9 percent to 11 percent this year. Nine of the 11 fastest growing jobs in the U.S. are related to the oil and gas industry.
These jobs are not just in Texas and Oklahoma, as might be expected. Pennsylvania, which has no tax on natural gas extraction and sits on the Marcellus Shale Formation, has seen a growth of more than 15,000 jobs since 2008. California and Kansas both added more than 10,000 jobs in that period. EMSI expects the industry to add 85,000 jobs nationally in 2011.*
*The Detroit News (Nov 10, 2011) – Oil and gas industry ready to add jobs