Estimated total construction employment demand for the U.S. oil and gas segment (in thousands of full-time workers).
Photo credit: FMI Corp.
The strains on labor capacity in oil and gas construction markets worldwide are becoming increasingly well known. These strains continue to affect projected project costs, and several large capital projects have already been delayed or cancelled (see Shell’s Louisiana GTL plant as an example) as a result of rising costs and questionable long-term profitability projections. As demand continues to increase in the face of the LNG export gold rush, construction firms are faced with unprecedented pressures to retain and grow talent.