Hays Oil & Gas job index recovers from 2012

Hays Oil & Gas index recovers from decline in fourth quarter of 2012

The increase in salaries is likely due to skills shortages.
The increase in salaries is likely due to skills shortages.

The Hays Oil & Gas Global Job Index recovered from the dip experienced in the last quarter of 2012 and has shown two consecutive years of substantial improvement.

The Index, which charts the number of jobs posted on nine oil and gas portals across the world, stood at 1.49 in March 2013, improving upon the 1.23 where it stood in December 2012. The Index was established in October 2010 when it was set at 1, of which all subsequent months have been compared to since. This quarter’s Index has seen the addition of jobs in demand and the average salary of these for each region, adding to the expert commentary provided in the Index.

John Faraguna, global managing director of Hays Oil & Gas, comments; “It is encouraging to see the recovery in the Index especially as we have also seen an increase in the average worldwide salary since last year. We can put this down to the ongoing skill shortages in the industry.

“Around the world in the mining and resources sector we have begun to witness a decline in hiring activity as projects are postponed. The economic issues within the EU have also had their knock on effect throughout the world, including China which has contributed to their slowdown and ability to build up their raw materials inventory.

“These signs have led the industry to approach 2013 with caution. I certainly feel these issues that need to have a close eye kept on them, but I remain confident nonetheless about the industry as a whole. I believe that the next few years will see a rise in hiring and for the rest of 2013, I look forward to what I believe will be an interesting year for the oil and gas industry.”

Due to political movements within the Middle East the markets have been finding a number of challenges. Despite this the Gulf Cooperation Council has numerous projects currently being undertaken, which in turn is attracting candidates looking for opportunities, said the company in a press release.

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