In 2023, wages and salaries in the US oil and gas extraction sector reached approximately $16.50 billion. From 2024 to 2028, forecasts indicate a declining trend, with values dropping from $15.43 billion in 2024 to $9.08 billion by 2028. This represents a significant downward trajectory.
The year-on-year decline is projected at 10.44% for 2025, 11.57% for 2026, 12.92% for 2027, and 14.66% for 2028. Over the five-year period, this results in a compound annual growth rate (CAGR) of -12.5%.
Future trends to watch for include fluctuations in global oil prices, regulatory changes, and technological advancements that could impact labor demands and wage dynamics within the industry.
