ENERGY EMPLOYMENT
10/21/2024 |
From 1973-1983, U.S. oil & gas extraction employment doubled from 130,000 to 260,000. In the ensuing bust, employment sank to 120,000 in 2004. During the shale boom, employment largely recovered and peaked at 200,000 2014/15. It’s since steadily declined, bottomed out in 2022, and is now up slightly to 120,000. Yet, U.S. 2024 production is projected to be a record 13.2 million bbl/day. Higher efficiencies and less need for exploration.