The industry will create new jobs in construction, heavy equipment makers and suppliers, fabricated materials and in the service sector as well.
Pasadena, CA (PRWEB) October 23, 2012
A new study published by IHS Global InSight says that the unconventional oil and gas production industry currently supports 1.7 million jobs. The industry is expected to create 3 million jobs by the end of the decade.
EmploymentCrossing CEO Harrison Barnes sees this as a good opportunity for people employed in the supply chains that the industry will need to grow and sustain. “The industry will create new jobs in construction, heavy equipment makers and suppliers, fabricated materials and in the service sector as well. “
The jobs being created have average wage levels that are much higher than the general economy says the study. The jobs are higher paying because the work needs to be both highly skilled and high quality. The average pay for workers in this industry is now $33.15 per hour. The average hourly pay in the general economy is $23.07.
The study, “America’s New Energy Future: The Unconventional Oil and Gas Revolution and the Economy” talks in detail about the economic contributions of the industry; both in terms of jobs created and overall economic value, including government revenue. In the next three years alone, the industry is set to add another 800,000 jobs.
Unconventional oil and gas drilling includes oil produced from shale deposits and using hydraulic fracturing technology (commonly called fracking) to extract natural gas and oil trapped in the dense rock formations. Currently, North Dakota is benefiting the most from this industry’s growth and the state has nearly reached full employment because of development of its Bakken formation. Pennsylvania and Texas are two other states that are now seeing thousands of jobs created because of the industry’s development. Pennsylvania is estimated to have gained 72,000 gas and oil jobs because of the fracking industry.
EmploymentCrossing has been able to find almost 150,000 engineering jobs, including 7,500 engineering jobs in the oil and gas industry. The term oil and gas technician alone brings up 2,000 job listings on the site.
EmploymentCrossing is part of the Employment Research Institute, which is one of the most powerful and comprehensive organizations dedicated to helping professionals find jobs for enhancing their careers. Employment Research Institute consists of more than 120 industry-specific and more than 120 location-specific job boards which consolidates every job opening it can find in one convenient location. The website also offers a seventy two-hour free trial to new members.