Oil & gas extraction

Industry Group

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Workforce

150k

2019 BLS Estimate

Average Employee Age

43.2

Estimated Job Growth

−13.6%

10-Year Projection

Average Salary

$120,887

Average Male Salary

$127,254

Average Female Salary

$127,870

About

The top three occupations in the Oil & gas extraction Industry Group are Petroleum, mining & geological engineers, including mining safety engineers, Firstline supervisors of construction trades & extraction workers, Other managers, Accountants & auditors, and General & operations managers. On average, full-time employees in the Oil & gas extraction Industry Group work 48.8 hours per week and have an average annual salary of $123,226. Part-time employees in the same industry work 22.7 hours and earn an average annual salary of $58,680.

The locations with the highest concentration of employees in the Oil & gas extraction Industry Group are Midland CountyMidland City PUMA, TX, South of I-10 & Inside Loop I-610 PUMA, TX, and North of I-10 & Inside Loop I-610 PUMA, TX. The industry that purchases the most products or services from the Hospitals Industry Group is Oil & gas extraction.

Photo by BASF - We create chemistry

Workforce

A snapshot of jobs, wages, and opportunities in the Oil & gas extraction Industry Group. Petroleum, mining & geological engineers, including mining safety engineers are the most common position, but the Oil & gas extraction Industry Group employs a relatively high number of Petroleum, mining & geological engineers, including mining safety engineers, compared to other industries.

The highest average salary in Oil & gas extraction goes to Economists.

Monthly Employment

Start Year

Y-Axis

−4.45%

Year-over-year decline

Employment change between May 2020 and May 2021

As of May 2021, there are 77.3k people employed in the Oil and Gas Extraction industry. This represents a −4.45% decrease in employment when compared to May 2020.

This chart shows monthly employment numbers for Oil and Gas Extraction over time (non-seasonally adjusted).

Occupations by Share

150k

Workforce (BLS Estimate)

ACS Estimate: 122k

−2.94%

1 Year Growth

± 10.2%

The Bureau of Labor Statistics estimates that there were 150k people employed in the Oil & gas extraction Industry Group in 2019.

According to ACS estimates, the number of people employed in the Oil & gas extraction Industry Group has been declining at a rate of −2.94%, , from 126k people in 2019 to 122k people in 2020.

The following graphic shows the share of employment in Oil & gas extraction by various occupations according to ACS estimates. Petroleum, mining & geological engineers, including mining safety engineers represent the largest share of positions held in Oil & gas extraction at 7.93%, followed by Firstline supervisors of construction trades & extraction workers with 6.37% and Other managers with 6.05%.

Average Salary

$120,887

AVERAGE WAGE

± $7,578

On average, employees in the Oil & gas extraction Industry Group make $120,887 per year. This number makes Oil & gas extraction the 3 highest paying Industry Group in the United States out of a total of 269 Industry Groups.

Wage by Location

HIGHEST PAYING PUBLIC USE MICRODATA AREA

HIGHEST PAYING PUMAS

This map shows which public use microdata areas (PUMAs) pay the highest average salary to employees in the Oil & gas extraction Industry Group.

Wage Distribution

0.403

WAGE GINI

Oil & gas extraction has a wage GINI of 0.403, which is less than than the national average of 0.478. In other words, wages are distributed more evenly in Oil & gas extraction (shown in red) in comparison to the national average for those wage buckets (shown in gray).

Spatial Concentration

Public Use Microdata Areas with RCA

This map shows the PUMAs in the United States that have revealed comparative advantage in the Oil & gas extraction Industry Group.

These are locations that employ more people in the Oil & gas extraction Industry Group than expected given both the size of that location's overall labor pool and the national size of the Oil & gas extraction Industry Group.

Diversity

Demographic information on the Oil & gas extraction Industry Group in the US. Male employees tend to earn less than Female employees, with average respective salaries of $127,254 and $127,870. So too tend to earn more than other races and ethnicities in this industry.

Composition by Sex

28.6k

FEMALE WORKFORCE

±4.15k

93.3k

MALE WORKFORCE

±7.5k

76.6% of workers in the Oil & gas extraction Industry Group are Male, making them the more common sex in the workforce. This chart shows the sex breakdown of the Oil & gas extraction Industry Group.

Wage by Sex in Common Jobs

$127,254

AVERAGE MALE SALARY

±$9,036

$127,870

AVERAGE FEMALE SALARY

±$8,994

On average, Male workers in the Oil & gas extraction Industry Group make 0.995 times less than their Female counterparts. This chart shows the sex-based wage disparity in the 5 most common occupations in the Oil & gas extraction Industry Group.

Wage by Race & Ethnicity in Common Jobs

RACE OR ETHNICITY WITH THE HIGHEST AVERAGE SALARY

American Indian and Alaska Native tribes specified; or American Indian or Alaska Native, not specified and no other races
Asian
White

On average, American Indian and Alaska Native tribes specified; or American Indian or Alaska Native, not specified and no other races employees in the Oil & gas extraction Industry Group earn 1.61 times more than other races and ethnicities. This chart shows the race and ethnicity-based wage disparities in the 5 most common occupations in the Oil & gas extraction Industry Group.

Input/Output

Estimates of the sources of the costs and the purchasers of the products in the Oil & gas extraction Industry Group. Based on estimates from the Bureau of Economic Analysis, this section indicates the amount of money spent by a specific industry in other industries. Manufacturing has the highest single input, by dollars, to the Oil & gas extraction Industry Group, and the largest industry purchasing services from the Oil & gas extraction Industry Group is Manufacturing.

In this flow diagram, all of the industries listed to the left are those places from which the highlighted industry has made purchases. They are the intermediate inputs to the highlighted industry. All those industries listed on the right side are those industries that have made purchases from the highlighted industry. They are the use of outputs of the highlighted industry. The visualizations below offer alternative ways to see and understand this data.

Industrial Flow

The closest comparable data for Oil & gas extraction is from Agriculture, Forestry, Fishing and Hunting, and Mining.

Intermediate Inputs

The closest comparable data for Oil & gas extraction is from Agriculture, Forestry, Fishing and Hunting, and Mining.

HIGHEST INPUT INDUSTRY

The Oil & gas extraction Industry Group gets the most input, by its share of the cost of all intermediate inputs, from the Manufacturing Industry. This visualization does not include labor and capital costs.

Use of Output by Other Industries

The closest comparable data for Oil & gas extraction is from Agriculture, Forestry, Fishing and Hunting, and Mining.

LARGEST PURCHASING INDUSTRY

The Manufacturing Industry purchases the greatest share of products and services from the Oil & gas extraction Industry Group in order to produce other goods and services. Purchases of the Oil & gas extraction Industry Group for final consumption by consumers, businesses, or government are not included here.

Projections

Growth projections of the Oil and gas extraction industry, both by number of employees and output, from the Bureau of Labor and Statistics. The national workforce is projected to grow 7.66% in the next ten years. The Oil and gas extraction industry has a lower projected workforce growth at −13.6%. Its projected 10-year growth in output (39.1%) is higher than the projected national growth in output (24.2%).

Job Growth

For growth projections, the closest comparible industry reported by the Bureau of Labor Statistics is Oil and gas extraction.

−13.6%

Estimated Job Growth

10-year Projection

7.66%

National Growth

10-year Projection

This line chart shows the projected 10-year growth in the number of jobs for Oil and gas extraction. This industry is expected to grow less than than 7.66%, the average rate of national job growth.