Online job postings in the oil and gas industry continue to climb around the world with an 11.98 per cent increase since January this year, according to the Hays Oil & Gas Global Job Index by expert recruiters Hays Oil & Gas.
The Hays Oil & Gas Global Job Index, established in October 2010, charts the number of jobs posted on nine oil and gas portals around the world. To create a baseline figure the index was set at 1, with all subsequent data compared to this baseline. The latest figures, covering January to June 2012, show a rise from 1.39 to 1.56.
Job postings in June were up 56 per cent since the first Index was conducted and the latest figures show a continual increase for jobs in the sector advertised online.
“The average number of jobs posted was higher than at any time since we first started measuring this data,” said Matthew Underhill, Managing Director of Hays Oil & Gas.
At 1.56 the Hays Oil & Gas Global Job Index is slightly down from its peak of 1.63, recorded in May 2012. “Since then the markets have been more tentative with some unease surrounding the debt issues in Europe and the consequential easing of the oil price,” Mr Underhill said. “Assuming there is no material change in the outlook, such as Greece defaulting, we expect to see a continuation at this level for the next six months or so. We expect the Index to remain buoyant, but believe any gains will be kept to a minimum due to the negative sentiment around Europe.”
Trends by region
As well as a global perspective, the Hays Oil & Gas Global Job Index also provides a measure of month-to-month jobs posted by region. The figures from January to June 2012 reveal:
Europe
Despite the global nature of oil and gas markets, it was difficult for employers to ignore the European gloom so close to home. This put a stop to the strong increases seen in the European data the previous quarter. However, it remains the region with the largest increase since the Index was first recorded in October 2010, currently at 1.94.
Russia and CIS
With a dramatic jump of 58.87 per cent, Russia and the CIS saw the strongest growth in the Index since January 2012. This was reflected in three consecutive records with job numbers peaking at 1.61 in June possibly due to plans announced to build a gas pipeline from Moscow to southern Europe and hiring needs in Kazakhstan and Azerbaijan.
Africa
Africa peaked in April at 1.92. However, it slowly started to ease in May. This was followed by a considerable drop in June to finish on 1.48. It remains to be seen whether the decline will continue or make a rebound. Elections in North Africa are causing a lag in activity, as are localisation drives in many of Africa’s western countries.
Middle East
The Index showed high levels of job postings in the Middle East. It posted its second highest level for the region, of 1.44 in May - since Hays Oil & Gas started recording data. This level eased to 1.32 in June.
Asia
Asia shot ahead in May and June and delivered on a long-promised boom in oil and gas activity in the region. The Index hit an all-time high in June at 1.86 and is second only to Europe in terms of its increase in activity since the Index was started in October 2010.
Australasia
Another all-time high was reached this quarter with Australia hitting 1.70 in May in response to busy markets in Queensland and Western Australia. However, the Index fell sharply in June and it remains to be seen whether this is a short-term lull or a trend. The market is still busily recruiting, so a strong bounce back next quarter is expected.
North America
The Index maintained its highs gained at the start of the year and although there was some easing in the level, it was not particularly material. Activity is being driven on numerous fronts throughout the region, not least of which is the oil sands in Canada.
South America
There was a relatively mixed set of numbers coming from the South American region, with Brazil still powering on, and Colombia adding to the upward trend. However, the oil and gas environment in Argentina and Venezuela is countering this growth and preventing further increases.
About the Hays Oil & Gas Job Index
The Hays Oil & Gas Global Job Index provides a measure of month-to-month jobs posted on the principal online job portals within the global oil and gas industry. The data is compiled by a team of analysts and researchers, and is broken down to reflect regional differences in hiring activity.
To view further detail on the index and the regional results please go to the Hays Oil & Gas website on www.hays-oilgas.com