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Oil and gas job postings were strong in the third quarter of the year despite economic challenges, according to the latest Hays Oil & Gas Global Job Index. This found that the number of job vacancies were flat throughout July and August, but started to rise in September after the quiet holiday season was over.
The European debt crisis and slower growth in China, combined with an acute skills shortage have had the biggest impact on the industry. But job growth was overall “steady.”
“Also boosting confidence and driving jobs postings in the quarter ahead will be the approach of the Northern Hemisphere’s winter, which will see built up stocks diminish, bolstering the oil price and driving confidence. There will also be a leadership change in China, which is widely thought to bring with it new economic investment,” said Matt Underhill, managing director of Hays Oil & Gas.
The report found regional discrepancies. In Europe, job postings in the industry saw a plateau in July and August, followed by a rise in September back to peak levels. Despite reducing oil and gas production in the UK, confidence in the oil and gas employment market is still generally high in the region.
In Africa, offshore developments in the West of the region; in Eastern African countries emerge as a hiring hub while the markets in North Africa are slowly recovering after last year’s unrest.
In Russia, the recruitment market has been buoyant following a quieter year in 2011. In the Middle East job postings fell in August due to religious festivities. In Asia, oil and gas jobs are seeing “calmer” markets as employers are waiting for new projects to start. Malaysia remains a regional hotspot.
In Australasia project execution staff are most in demand while in North America demand fluctuated over the summer months. In South America, Colombia continues to drive activity and offset any falls in Venezuela.