Energy jobs: power and mining recover, oil and gas lags behind

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GlobalData’s analysis of the jobs market shows that jobs in power and mining have exceeded pre-pandemic levels, while jobs in oil and gas have yet to recover.

Mining jobs have grown to well above pre-pandemic levels. This trend is in line with the rapid recovery of the mining sector overall, which saw commodity prices hit record highs within 12 months of the start of the pandemic.

With rising prices, commodity demand and profits, miners are committing to higher investments in 2021, which is positively impacting the mining jobs market. (You can find an in-depth analysis of the mining sector’s recovery later in this issue.)

Power jobs grew to outperform pre-pandemic levels in Q1 2021. Green recovery is a key aspect of Covid-19 recovery policy in many countries, with stimulus money being allocated to support clean energy initiatives.

With the US economy on the mend after Covid-19 lockdowns, and the potential for a massive infusion of investment in clean energy from President Biden’s $2.25tn jobs and infrastructure proposal, the 'Clean Jobs America' 2021 report from business group Environmental Entrepreneurs predicts “promise of unparalleled jobs growth” in 2021 and beyond, as reported by EnergyMonitor.

“While clean energy suffered like many sectors of the economy in 2020, the prospects for growth are greater than ever given the climate policy proposals from the Biden administration, along with leadership in the states,” the report states.

Oil and gas jobs were impacted severely in the first two months of the pandemic and recovery has been slow. Unlike mining and power jobs, oil and gas jobs have yet to recover to pre-pandemic levels.

According to the latest research by GlobalData, the number of open job advertisements in oil and gas is currently at a lower level compared to most other industries, relative to their pre-pandemic norms. By 15 March 2021 (the latest date for which data is available), hiring levels were 19.9% lower than those recorded prior to Covid-19’s impact.