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U.S. oil, gas sector economic bright spot

by Daniel J. Graeber Washington (UPI) Nov 5, 2014 UPI

Job and wage growth in the U.S. oil and gas industry has increased since 2003 and Texas is leading the way, the U.S. Energy Department said Wednesday.

The Energy Information Administration, a division of the Energy Department, said oil and natural gas production jobs increased at a rate of 63 percent from 2003-08, declined during the recession, and then rallied again by 28 percent between 2009-13.

EIA said Texas, the No. 1 oil producer in the nation, adding the most jobs in the period ending last year.

"Texas added more than 19,000 new private sector jobs in oil and natural gas production in 2013, almost six times the number added in New Mexico, the next highest state for oil and natural gas production jobs added last year," EIA said in a report.

The EIA assessment on private sector jobs does not include those employed at oil and natural gas corporate headquarters in Texas.

Last year, shale production gains in North Dakota, Oklahoma and Texas helped boost their respective economies. A drawback for North Dakota is that crime rates have increased in parallel with job and economic gains.

On average, the annual wage for someone working in the production sector of the United States was $108,000, more than twice the average wage for all other private sector industries, EIA data show.

"Since 2009, average wages from oil and natural gas production jobs have increased by 12 percent, compared with a 10 percent increase for all private sector industries," it said.

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