The number of employees in the UK’s extraction of crude petroleum and natural gas sector is forecasted to decline from 2024 to 2028, starting at 12.31 thousand in 2024 and decreasing to 11.59 thousand by 2028. The year-on-year variation shows a consistent contraction, with a slight reduction in employee numbers each year. This steady decline suggests companies are likely optimizing operations due to technological advancements or market conditions. Over these five years, the compound annual growth rate indicates a negative trend in employment numbers.
Future trends to watch include developments in automation and energy transition policies, possibly impacting employment needs. Additionally, fluctuations in global oil prices and regulatory changes could further shape the sector's employment landscape.
