Internet Employment Up 13 Percent Since Recession Began
Employment in Internet companies is up 13 percent since the recession officially started in December 2007.
Internet Industry Boosts Employment
The Internet industry – which includes Google and Facebook – has boosted employment by 3.1 percent over a six month period ending in April 2010.
Software Acts As Job Leader During 1990-91 Recession
In the recession of 1990-91, software was a job leader, with software firms adding jobs in seven out of eight months of the downturn.
Job Loss In Innovative Sector
The 2.4 million shortfall in innovative sector jobs from 2000 to 2007, relative to projections, was a major contributor to the pre-bust economic weakness.
Taken together, the companies in innovative industries do roughly 75 percent of all the business in research and development, according to new data from the National Science Foundation. They also employ almost 70 percent of all R&D personnel.
Innovative Sector Loses 700,000 Jobs From 2000-2007
In 2001, Bureau of Labor Statistics published projections implying that the innovative sector would create 1.7 million net new jobs by 2007. But the innovative sector actually lost almost 700,000 jobs from 2000 to 2007.
The estimated total impact of the $6.4 billion in network investment
– presumed to be enabled by the ARRA broadband provisions ranged from the pessimistic scenario of 126,800 to the optimistic scenario of 400,800 with a mid range estimate of 263,800 over four years.
Without the stimulus of the president’s recovery bill,
the drop-off in real GDP growth would have been 2 percent lower than what it was at the end of the year.
Another recent report estimates that a “stimulus package that spurs or supports $10 billion of investment in 1 year in broadband networks will support an estimated 498,000 new or retained U.S. jobs for one year.”
According to Brian David, director-adoption and usage for the FCC’s Omnibus Broadband Initiative, the broadband plan may end up establishing goals for broadband adoption rates in the U.S. to rise to the “high 70s” in percentage terms by 2015, with a longer-term target of 88% to 90%. By comparison, he noted that adoption rates in the U.S. of basic home telephone services never got much beyond 95%.