Infographic: New Jobs in Solar Could Outpace Oil by Next Year

New jobs in solar will outpace jobs in oil by the end of 2016

This Earth Day, a landmark climate agreement will be signed by 130 nations at a UN ceremony—the greatest number of countries to ever sign an international treaty.

This is a clear signal that global leaders are committed to addressing climate change, an investment that’s reflected in labor markets worldwide—there are an estimated 7.7 million direct and indirect jobs in the renewable energy sector.

Yet these labor markets are not the strongest they have been. The decline in oil prices has rocked the entire energy sector—as prices for one commodity fall, other resources are affected as well. As the infographic below shows, the growth rate for job postings in oil, coal and many renewable energies have trended downwards for the past two years.

Still, oil jobs currently up the largest share of energy job postings on Indeed—50% to be precise. Solar makes up 39% and wind makes up 4%. So, despite the blows the oil industry has taken, non-renewables are still where the jobs are.

But that could all change within the next year as employers in solar continue to post jobs. If oil job postings keep dropping at their current rate, solar could become the largest energy employer in several months. Over the past two years, oil has been shrinking by an average of -12.6% per quarter, compared to solar at an average of -1.7% per quarter. Using that average, by the fourth quarter of 2016, solar would surpass oil in number of postings.

Meanwhile, job seekers are turning away from oil and coal and their interest in solar, nuclear and wind is picking up. Growth in job seeker interest in these renewables is pacing at 24%, 8%, and 15% respectively.

See the infographic below for the latest trends in energy employment:

INFOGRAPHIC: 130 nations will sign a climate change agreement on Earth Day 2016. This is a commitment from leaders worldwide to address environmental concerns, but how does that translate to the economy? While oil job postings still make up the majority of energy jobs on Indeed, new jobs in solar will outpace oil by the end of next year.