USTelecom Vidcast: Broadband, Jobs and the Economy March 3rd, 2010
Today, lawmakers across the political spectrum agree that stimulating jobs and our economy are key to revitalizing our nation. As policymakers work to generate new economic opportunities, broadband continues to bring positive growth and well-paying jobs enriching 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 featured 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.
Interested in learning more? To hear USTelecom’s overview of how broadband is aiding the economy, click on the video.