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New UserIncreasing demand for US coal pushes workforce numbers up in Q2’22 — report
31 Aug 2022
North Antelope Rochelle operation
in Wyoming’s Powder River Basin. (Image courtesy of Peabody Energy.)
Total US coal production rose in the second quarter of 2022
compared to a year earlier, and a sustained rise in demand for the fuel used in
domestic and power generation allowed companies to increase their worker head
counts, S&P Global Market Intelligence reports.
On a year-over-year basis, average employment rose 11.3% in the
second quarter, and coal volumes improved about 2.0%, according to the latest
S&P Global Market Intelligence data and analysis.
“The average number of employees in the U.S. coal sector has
gradually increased over the last four quarters,” the report reads.
Second-quarter employment rose 1.5% to 43,358 compared to the previous quarter,
even though coal production volumes fell by 2.5% to 145.5 million tons.”
“The extraordinary pricing
centered in [European Union} markets has improved cash flows to U.S. coal
producers, allowing them to reduce a backlog in hiring even if logistics
constraints in rail and seaborne have limited their ability to increase volumes
much,” Steve Piper, director for energy research at S&P Global Commodity
Insights, said in an email.
Coal exports from the U.S. increased in the second quarter as
demand and prices remained at high levels amid a global energy crisis, which
supports further production increases, he added.
“The demand setup for 2023 looks good, as economic spreads to EU
coal and to U.S. domestic natural gas, which is also under heavy demand
pressure from EU markets, set the conditions for volume growth,” Piper said.
“These factors likely support hiring, even with the longer-term outlook being
less certain.”