Trends and dynamic relations between crude oil prices and energy employment

INDERSCIENCE 🔒 | Abstract: This research employs panel data to analyse the trends of 21 energy occupations in ten NAICS energy sectors in the USA and the relationships among oil prices, oil production, and energy jobs by sector and nationwide from 2002 to 2016. We highlight several major findings: 1) energy sectors do matter (statistically and significantly different) for the same job titles; 2) the largest and smallest energy hires are consistent and robust; 3) the most and best jobs are mostly created in the upstream and related services sectors; 4) majority of the energy occupations grow faster than those for the nation; 5) energy jobs are strongly associated with oil prices and production; 6) energy jobs, oil prices, and US oil production play significant roles in the national employment. To our knowledge, this panel analysis of energy sector jobs is the first of its kind. The findings could be useful to various energy stakeholders and policy makers for adopting effective employment strategies and policies.

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