The natural gas and oil production have been considered as the strong economic activities that have come a long way by generating steady employment opportunities and key drivers of the going economy as well.
According to Small Business and Entrepreneurship Council (SBEC), although the rate of employment dropped by 0.9 percent from 2005 to 2013, but the employment associated with natural gas production raised by 35 percent.
The report published by SBEC highlighted the facts that, “total employment linked with oil and gas extraction sector expanded by 46.1 percent, 61 percent employment growth has been observed by drilling oil and gas wells segment, the growth for support sector of Oil and gas operations also expanded, up 100.2 percent, followed by oil and gas pipeline and related structures construction sector experienced growth by 66.1 percent and machinery manufacturing sector for oil and gas extraction hit the increment of jobs by 67.1 percent.”
The below mention are some of the states where the gust of growth had been taken place during the period of 2005 to 2012:
Arkansas: The new jobs created by natural gas production was 6500, a 501.7 percent growth.
Colorado: Overall production of natural gas hit he triple digit growth of 139.1 percent, alongside addition of new job rested between 42 percent and 153 percent in entire energy sector.
Louisiana: The state’s production of natural gas increased by 83 percent, whereas the employment reached high with growth rate of 40.8 percent in both oil and gas sector for operations.
Oklahoma: The expansion in total natural gas production observed by 30.8 percent, adding 28,609 employments.
Pennsylvania: Record expansion of natural gas production reported showing 1,239.3 percent, and 512.3 percent job added in the domain of support for oil and gas operations
Texas: The industry hired 131,867 new employees with 39.8 percent growth registered in natural gas production.
Utah: The total production of natural gas grew by 62.8 percent, and as far as employments were concerned, the state enjoyed the jobs expansion ranging from 35 percent to 122 percent.
Virginia: The activities for natural gas production raised by 65.2 percent with high development of job opportunities by 102.4 percent mainly in oil and gas pipeline and related structures construction sector
West Virginia: The state also hit the century above growth on account of natural gas production by 144.2 percent. The employment addition in entire energy sector moved up by 44 percent to 310 percent.
Wyoming: Total production experienced growth by 15.2 percent with new job opportunities grew by 268.4 percent, mainly occurred in oil and gas pipeline and related structures construction sector
The US economy has been struggling since a long time apart from gas energy sector which is consistently reported healthy profits. Therefore, the investment bureaus and entrepreneurs should take interest in rapid fire industry.
