The forecast for employment in the UK oil and gas extraction sector indicates a gradual decline in the number of persons employed from 2024 through 2028. Starting at 12.34 thousand employees in 2024, the employment figure is expected to decrease by approximately 1.8% annually, reaching 11.63 thousand by 2028. The compound annual growth rate (CAGR) over this five-year period reflects a steady negative trend in employment numbers.

When considering future trends, several factors should be monitored:

Technological advancements contributing to automation and possibly further reducing manpower requirements.
Governmental policies around renewable energy that may shift focus and resources away from traditional oil and gas extraction.
Global energy price fluctuations that can influence investment and employment in the sector.