Job creation has been in the news a lot lately in light of the high unemployment rate during the recent economic meltdown, the significant improvement on that front during the Obama administration, and the recent pledges and efforts by President-elect Trump to further improve the situation by retaining and attracting U.S. jobs.
While the tech industry has a long history of outsourcing work to other parts of the world, it’s also been very successful at creating a lot of wealth inside the country. And the building of 5G cellular networks is poised to be one of the next tech efforts that could create jobs and fuel more wealth in the U.S., according to new data from Accenture (News - Alert) and commissioned by the CTIA cellular industry association.
Specifically, these organizations suggest that 5G could create up to 3 million jobs and contribute about $500 billion to the U.S. GDP. Wireless operators will invest up to $275 million over seven years for 5G builds, according to Accenture. That could create 850,000 U.S. jobs. About 350,000 of those opportunities could be construction jobs, Accenture says, while the other jobs could be added at suppliers and other entities supporting the 5G builds.
Because 5G networks should be uniquely positioned to address Internet of Things applications, it is also expected to benefit the economy through new savings.
“5G-powered smart city solutions applied to the management of vehicle traffic and electrical grids alone could produce an estimate of $160 billion in benefits and savings for local communities and their residents,” said Tejas Rao, managing director and mobile offering network lead for Accenture’s North America practice. “These 5G attributes will enable cities to reduce commute times, improve public safety, and generate significant smart-grid efficiencies.”
(Of course, automation of some tasks also sets the stage for environments requiring the involvement of fewer human beings, which could potentially decrease the number of jobs.)
CTIA (News - Alert) also used the release of this study as an opportunity to reiterate its message that municipal leaders should make wireless siting an easier process for 5G network builders. Streamlining wireless siting is particularly important with 5G, Accenture and CTIA note, given it will rely on a greater number of smaller cells for coverage.
Edited by Alicia Young