Texas Border Business
AUSTIN – New data from the U.S. Census Bureau and Texas Workforce Commission (TWC) indicate that direct employment and wages in the oil and natural gas industry saw continued growth in 2024 according to the latest chartbook by Texas Oil & Gas Association (TXOGA) Chief Economist Dean Foreman, Ph.D.
Employment grew to 494,593 jobs, while industry wages eclipsed $20.8 billion in Q1 2024, reflecting 2.1% year-over-year (y/y) job growth and 6.5% y/y wage growth, indicating wage pressures amid a relatively tight labor market.
In addition, two-thirds of the job growth occurred in upstream and support services, while another quarter of the job growth occurred in pipeline transportation.
“Continued job and wage growth across the oil and natural gas industry sectors is a testament to the irreplaceable role of these resources in our everyday lives,” said TXOGA President Todd Staples. “Industry is constantly innovating and improving to ensure that we help meet our state and nation’s energy needs and remain the global energy leader.”
“These data from the Census Bureau and TWC provide the most comprehensive picture of employment trends across the entire oil and natural gas value chain,” said Dr. Foreman. “Led by natural gas extraction and pipeline transportation, 15 of the 20 industry sectors that comprise the oil and natural gas industry reported employment growth in Q1 2024. Texas and the Permian Basin have led U.S. in natural gas production growth so far in 2024, thanks to the state’s robust workforce and pipeline infrastructure.”
Read the chartbook.
