Broadband, Jobs and the Economy

Today, lawmakers across the political spectrum agree that stimulating job growth and revitalizing our economy are key goals for our nation.  As policy-makers work to generate new economic opportunities, broadband continues to enrich the communities and livelihoods of American citizens.

In the latest USTelecom vidcast, USTelecom President and CEO Walter B. McCormick Jr. discusses the positive contributions broadband is already making to our economy, as well as what lies ahead for broadband and IT-related industries.  Here are some highlights:

• Job Growth.  Studies show the broadband and IT sectors created nearly half of all new American jobs in 2008.  And this growth trajectory gives no indication of slowing down.  To the contrary, Broadband Information, Communications, and Technology-enabled occupations are projected to be the fastest-growing U.S. professions over the next decade.
  
  
• Well-Paying Positions.  In addition to the rapid growth of telecom positions, studies show that the average hourly earnings for these positions are 42% higher than those in the manufacturing sector.
  
  
• Vigorous Investment.  Companies nationwide invested $455 billion in the Internet, Communications, and Technology sector in 2008 - amounting to more than 1 in every 5 dollars invested in the entire U.S. economy.  Not only does this establish the U.S. as the world leader in broadband investment, economists also estimate that at least one-third of our country's productivity growth derives from these broadband-fueled sectors.
  
  
• Telecommuting.  Employees in the Washington, D.C. area experienced the power of broadband firsthand - as many of us continued to work seamlessly from home, despite the blizzards raging outside.  And, even when weather isn't an issue, 34 million Americans telecommute - a number that is expected to nearly double by 2016, according to Forrester research.
  
  
• Finding a Job.  Thanks to broadband and social media, finding a job has become a popular online pursuit.  In fact, according to the Pew Internet and American Life Project, 41% of Americans conduct job research online - flocking to social media sites such as LinkedIn and Facebook.  And a CareerBuilder study reports that 45% of today's employers vet candidates via their social media pages.

Interested in learning more?  Click here to see USTelecom's overview of how broadband is aiding the economy.