A new API study concludes many of tomorrow's best-paying careers, including those in the oil and natural gas industry, will require training or education in a STEM discipline, and highlighted opportunities for women and minorities.
"The oil and natural gas industry will experience significant turnover and growth in the years to come, greatly expanding career opportunities for women and communities of color," said API President and CEO Jack Gerard.
In addition to the millions of jobs already supported by the industry, 1.9 million new job opportunities are projected through 2035, with almost 707,000 job opportunities projected to be filled by minorities and more than 290,000 anticipated to be filled by women. And in 2015, millennials accounted for 34 percent of direct industry employment. That share is projected to rise to 41 percent over the next decade.
Findings showed nearly 20 percent of all current U.S. jobs require STEM skills and/or training. Projections show STEM jobs will grow about 9 percent between 2014- 2024, faster than the growth rate projected for non-related STEM occupations.
Highlights include:
- A STEM bachelor's degree nearly doubles the likelihood of working in the oil and natural gas industry, and earning a degree in an industry-specific or related field increases the likelihood of working in the industry by 3-7 times.
- STEM skills are important at every education level. It is estimated nearly half of all STEM jobs do not require a four-year degree and a third of all STEM jobs are in blue collar occupations. This is especially significant in the natural gas and oil industry, where more than 1 million blue collar job opportunities are projected through 2035.
- Almost without exception, across all education levels, degree majors, gender, race, ethnicity and occupation types, those who work in the oil and natural gas industry earn more than those who do not.
For more information, visit www.api.org or call (202) 682-8000.
