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November 19, 1997updated 01 Sep 2016 3:43pm


By CBR Staff Writer

Information technology, if defined as both computing and telecommunications, is now the largest American industry, bigger than construction, food products and motor manufacturing, according to a new study. Computing and telecommunications industries increased sales by 57% during the 1990’s to $866bn, says the report by the American Electronics Association and the Nasdaq stock market. The report, quoted in the International Herald Tribune, says the high-technology sector generated 6.2% of the nation’s output of goods and services and employed nearly 4.3 million people. They earned 73% more than the average national wage. The publication, called Cybernation: The Importance of High-Technology Industry to the American Economy is designed to influence government opinion-makers in Washington, where a host of issues crucial to the future of the industry are being debated. It reveals that productivity of workers in the IT industry has been growing sharply; while revenues rose 57% between 1990 and 1996, employment only rose 7.2% to 4.26 million.

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