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

COMPUTING AND COMMUNICATIONS NOW THE LARGEST US INDUSTRY

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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