OIL AND GAS INDUSTRY HAS A HUGE WORKERS SHORTAGE OF 100,000 IN COMING YEAR

Oil and Gas industry has a huge workers shortage of 100,000 in coming year

US oil and gas industry will be needed of ten thousands of employees in the coming two years as the oil price is recovering and more rigs being explored. In last week government data showed that US has a whopping 287,000 jobs in coming June, and country’s unemployment rate was below 5 percent.

As the oil field has been emerging up there will be shortage of mid-career workers as like in 1980s. In that type of situations since the service company is having shortage in workers, they may have to pay politely to them. 

In the earlier 2014’s there had a severe job loss, so they have concentrated for the related industries for the sustainability. But the talents exit from the oil and gas the industry permanently, since this happened the long term shortage of talented workers are growing up.

As per the studies, the high pay in oil and gas industry makes United States possible to attract its subsidiary and service companies which in turn make employment vacancy of 80,000 – 100,000. In most of the companies they have retained their experienced staff fleets by some salary decrements or placing them in low rank, so can give them  promotion when the oil price get recovered and activity get increased.

If this is the condition as per the whole predictions, all companies have to hire the individuals and provide them with the training skill for make them employable.

One more positivity for the people is that the industry hasn’t done any new hiring for last two years. At the same time, enrollment in petroleum engineering programs across US was falling. Secondly, a large number of experienced and high income workers have retired or gone out of the industry leaving a large opportunity for the middle level employers to fill the skills gap.