Oil, natural gas created 9% of new US jobs in 2011, WEF report says

03/19/2012
The US oil and gas industry created 37,000 direct jobs and 111,000 indirect jobs in 2011, effectively generating 9% of all new US jobs last year, the World Economic Forum said in a Mar. 7 report. The multiplier effect of about 3 reflects a global economic growth trend where new jobs in all forms of energy produce more indirect than direct economic benefits, it indicated. "We always suspected that energy had a vital role to play in the economic recovery, but we were still surprised when the data uncovered the magnitude of the sector's multiplier effects," said Roberto Bocca, senior energy industries director at the New York-based WEF. The report, which was released in Houston dur...
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