As oil prices rise, so does hiring in the oil and energy sector

By Staff | June 12, 2018

Recent data from LinkedIn’s June Workforce Report shows that new hiring in the oil and energy sector is impacting Houston and other cities dependent on the oil and gas industry.

Gross hiring in the oil and energy rose 5.2 percent year-over-year, compared to the national average of a 4.5 percent across all industries. LinkedIn’s report said the increase correlates closely with the rise in oil prices.

In Houston, the report said that as the city’s job market has rebounded, “the surplus of people with skills typically needed to fuel the oil and energy industry—like petroleum engineering, energy, and geology skills—has reduced, from over 16,000 people in February 2016, to under 14,000 people in February 2018.” According to LinkedIn, this is another sign that hiring is picking up in a meaningful way as the city’s core industry stabilizes.

Not surprisingly, LinkedIn’s workforce report notes that when a city is closely associated with a single industry—such as the technology industry in San Francisco or the auto industry in Detroit—it’s greatly impacted by boom and bust cycles. The Odessa and Midland area of Texas is sensitive to the oil and gas industry’s fortunes. However, with oil prices increasing, talent inflows into the area have risen, particularly from the three largest cities in Texas. Houston is up 44 percent since September 2017, Dallas 750 percent and Austin 255 percent.

The LinkedIn Workforce Report is a monthly report on employment trends in the U.S. workforce, with insights into hiring, skills gaps and migration trends at the national level, as well as localized employment trends in 20 of the largest U.S. metro areas.