CEO DATELINE - Association: Internet economy totaled $966 billion in 2014
CEO DATELINE - Association: Internet economy totaled $966 billion in 2014
- December 11, 2015 |
- Walt Williams
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The Internet sector accounted for more than $966 billion in U.S. economic activity in 2014, or roughly 6 percent of the nation's real GDP that year, according to a new report by the Internet Association.
The study is the first economic report commissioned by the group, which was founded in 2012 to represent Internet companies like Google and Amazon. The consulting firm Economists Inc. was hired to evaluate the total economic value of the Internet to the nation's economy.
What the report's author found was that employment in the Internet sector has doubled since 2007, reaching 3 million jobs in 2014. The reported noted that increase was in stark contrast to decreases in other areas, such as construction and telecommunications.
"The Internet often has an ‘everywhere but nowhere' feel, however, in reality, jobs in the Internet sector have doubled, contributions to real GDP have increased by more than two-fold, and employee wages far surpass the national average," said Michael Beckerman, CEO of the Internet Association.
The report also found Internet sector jobs generally paid better than their counterparts in electronic products, chemical products and telecommunications. Internet employees earned approximately $79,184, compared to the national average of $61,547. http://bit.ly/1M7xNM0
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