Oil & Gas industry gains 8,000 jobs in May

The U.S unemployment rate has now dropped to 3.8%. Unemployment rates have not been this low since 2000, and the trajectory is down from double digit unemployment in 2009-2010 in the wake of the Great Recession.


Unemployment Rate Reaches 18-year Low

Overall U.S. Unemployment Rate 1999-2018. Source: Bureau of Labor and Statistics

In total, payroll unemployment decreased by 223,000 in May bringing the total number of unemployed persons to 6.1 million, which was distributed across several industries including oil and gas extraction (+8,000), construction (+25,000), and professional and technical services (+23,000).

Unemployment Rate Reaches 18-year Low

Employment of Workers in Oil and Gas Extraction 2008-2018 (In Thousands). Source: Bureau of Labor Statistics


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