Texas boosted US oil, gas employment in April

US oil and gas employment added 3,800 jobs month-over-month in April to total 390,900, according to data from the US Bureau of Labor Statistics.

Data compiled by the Federal Reserve Bank of Dallas indicates Texas oil and gas employment grew by 3,300 jobs to 214,100, representing the state’s fifth straight monthly increase. Oil and gas extraction employment in the state gained 920 jobs to 92,100, while payrolls in support activities for mining rose 2,380 jobs to 122,000.

Total nonfarm employment in the Permian basin region edged up 200 jobs in April to 158,200, around where it has remained since Febru­ary. Since December 2016, employment in the basin has grown 1,500 jobs and at an annualized rate of around 3%.

“A potential tailwind is the improved outlook of oil field service firms and exploration and production firms as reported in the first-quarter Dallas Fed Energy Survey,” the bank noted. “Most oil field service firms and about half of the E&P firms increased their expectations of 2018 capital spending.”

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