Infotech Packs A Hefty Wallop
NOW IT'S OFFICIAL: THE U.S. IS in the midst of a Digital Revolution, transforming the way companies do business and cutting costs. On Apr. 15, the Commerce Dept. issued a sweeping report on how information technology is transforming the economy. Infotech, now at more than 8% of domestic output, is responsible for one-quarter of the economy's growth and provides 7.4 million jobs at an average wage of $46,000--64% higher than the private sector overall, Commerce found. Meanwhile, on Apr. 14, the revolution got a boost from Vice-President Al Gore, who announced a partnership with Qwest Communications, Cisco Systems, Nortel, and 122 universities to create a next-generation superfast research network.
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