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Internet Industry’s Impact on the Economy
A study led by Harvard Business School professors and commissioned by the Interactive Advertising Bureau (IAB) found that the ad-supported internet industry generated $1.2 trillion to the U.S. economy last year. From 2012 to 2016, the sector saw an annual employment growth rate of 19.6%, compared to the total non-farm job growth of 1.8% during the same time period.
There are 10.4 million jobs (7.3% of non-farm jobs) in the industry, which accounted for six percent of the U.S. GDP. Some of the biggest employment centers for these jobs are in Texas, North Carolina and Utah, which will likely come as a surprise as these aren’t known to be internet industry hubs, like Silicon Valley or Seattle.
Dave Grimaldi, IAB’s EVP, Public Policy, said, “The internet has become central to Americans’ day-to-day lives as they read, watch, shop, and connect on digital screens.”
For comments, questions or concerns, please contact Daniella Soloway
