Oil and gas extraction

Industry Insight

The Oil and gas extraction industry is classified under NAICS code 211000 and employed approximately 122,500 workers in 2024 according to the Bureau of Labor Statistics Employment Projections program. By 2034, BLS projects employment will reach 115,700 — a net change of -6,800 jobs over the decade. That works out to a -5.5% projected growth rate, a contraction reflecting structural change, automation, or shifting consumer demand.

NAICS 211000 sits within a broader sector ecosystem whose health depends on demographic trends, technology adoption curves, and policy decisions on immigration, tax incentives, and labor regulation. The occupation mix inside Oil and gas extraction determines how AI displacement risk filters down to individual workers — industries dominated by clerical and routine analytical roles face the steepest exposure, while those anchored in physical skill, patient care, or creative judgment retain stronger resilience. The projected decline here signals workers should proactively assess transferable skills and adjacent occupations with stronger outlooks.

Use this industry profile alongside our occupation rankings and employer AI risk grades to build a full picture. The BLS publishes detailed wage and employment figures for each sector in its Occupational Employment and Wage Statistics and Employment Projections programs. The BLS Employment Projections methodology blends input-output modeling, productivity forecasts, and occupational staffing patterns, so estimates are directional rather than precise, and industry-level outcomes depend heavily on macroeconomic conditions that evolve between projection cycles.