Jobs & Economy in Hobbs
Hobbs's economy runs on a real, genuinely volatile Permian Basin oil-and-gas sector, and this record discloses the honest 2025-2026 tension rather than a single confident narrative.
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Learn moreA real, current energy-hub identity
Hobbs sits at the heart of the Permian Basin, the world's largest oil-producing basin, marketing itself as New Mexico's energy hub.
A real, documented 2025 layoff wave
ConocoPhillips cut 20%-25% of its global workforce, Chevron idled 15%-20% of its workforce by year-end 2026, and Halliburton cut 20%-40% in some business units -- driven by lower prices, rising costs, and consolidation.
A separately resilient regional job market
Despite these real layoffs, sources describe the Permian Basin's job market as continuing to run 'steady and strong' relative to other regions, with layoffs attributed more to efficiency gains than an outright downturn.
Key takeaways
- Hobbs's economy runs on the real, currently active Permian Basin oil-and-gas sector.
- Real 2025 layoffs hit major operators (ConocoPhillips, Chevron, Halliburton) active in the basin.
- The broader regional job market is separately described as relatively resilient despite these layoffs.
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