Using Bureau of Labor Statistics (BLS) data, PESA, in consultation with researchers from the Hobby School of Public Affairs at the University of Houston, estimates OFS sector jobs in the U.S. dropped from 764,189 in February to 679,281 in May, a decline of 11.1%. Losses were heaviest in April, totalling 59,666 jobs.
Friday, June 19, 2020
World Oil - Global pandemic cost oil industry 84,000+ jobs, PESA research shows
HOUSTON - Research by the Petroleum Equipment and Services Association (PESA) found that employment in the oilfield services and equipment (OFS) sector fell by nearly 15,000 jobs in May, bringing total job losses due to pandemic-related demand destruction to more than 84,000. OFS employment is down 105,000 jobs from May 2019 and now stands at its lowest point since 2016.
Using Bureau of Labor Statistics (BLS) data, PESA, in consultation with researchers from the Hobby School of Public Affairs at the University of Houston, estimates OFS sector jobs in the U.S. dropped from 764,189 in February to 679,281 in May, a decline of 11.1%. Losses were heaviest in April, totalling 59,666 jobs.
Using Bureau of Labor Statistics (BLS) data, PESA, in consultation with researchers from the Hobby School of Public Affairs at the University of Houston, estimates OFS sector jobs in the U.S. dropped from 764,189 in February to 679,281 in May, a decline of 11.1%. Losses were heaviest in April, totalling 59,666 jobs.
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