Texas Oil and Gas Jobs, Wages Soar in 1Q Ahead of Rig Count, Price Declines

The natural gas and oil industry in Texas has continued to experience significant growth in employment and wages during the first quarter of this year, according to a recent analysis conducted by the Texas Oil and Gas Association (TXOGA). The report regarding texas oil and gas jobs, which utilized data from the U.S. Census Bureau and Texas Workforce Commission, indicates that direct employment in the industry increased by 8.1% year-over-year to 482,557 jobs.

This suggests that the industry remains a major contributor to Texas’ economy and provides employment opportunities to a large number of people across the state.

In addition to the increase in direct employment, the TXOGA report also found that industry wages showed even stronger growth, rising by 22% year-over-year to approximately $19.5 billion, compared to $16 billion in the first quarter of 2022. The growth in industry wages is likely a reflection of the ongoing high demand for natural gas and oil, as well as the industry’s continued investment in technology and innovation. Overall, the findings of the TXOGA report suggest that the natural gas and oil industry will continue to play an important role in Texas’ economy and job market in the coming years.

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Source: NGI

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