Bloomberg Reports Pennsylvania Created 2.8 Million Jobs. Say What?

Here is the actual Bloomberg News quote:

In Pennsylvania, natural gas and related industries have created 72,000 jobs, 3,143 well permits and more than $1 billion in tax revenue since 2009, the trade associations said.

As we keep explaining, 72,000 is the number of "new hires" in Marcellus industries - not the number of jobs created. Pennsylvania as a whole recorded 2.8 million “new hires” during the same time period, but those only translated into 85,467 jobs created (go here for a full explanation).

New hires are not the same as jobs created because many new hires replace workers who have quit, been fired or retired. The best available estimate is that Marcellus-related industries have created fewer than 10,000 jobs in the Commonwealth between the fourth quarter of 2007 and the fourth quarter of 2010.

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