WASHINGTON, Feb. 2, 2021 /PRNewswire/ — 5G networks could create about 4.5 million jobs in the US and add roughly $1.5 trillion to the country’s GDP, according to a new report from Boston Consulting Group (BCG), commissioned by CTIA, the wireless industry association.
BCG’s analysis shows that 5G will contribute to US GDP and employment growth by enabling of innovation that will transform all sectors of America’s economy across cities and communities of all sizes.
“Our analysis shows that the 5G economy’s impact will be broad and deep, unlocking significant benefits across the US and enabling new use cases across all industries, including health care, education, and agriculture,” said Enrique Duarte Melo, a BCG managing director and senior partner and lead author of this report. “The GDP growth and job creation that America’s 5G networks are beginning to unlock will be instrumental in jump-starting the country’s economic recovery.”
BCG’s research suggests that three industries, in particular, will benefit from these 5G use cases:
Information services, which will see job growth of 205,000 and contribute $217 billion to GDP
Manufacturing, which will see a boost of 380,000 jobs and contribute $165 billion to GDP
Health care, which will see 341,000 new jobs and contribute $104 billion to GDP
“BCG’s study confirms the significant benefits of the 5G economy, today and for years to come,” said Meredith Attwell Baker, CTIA President and CEO. “With three nationwide 5G networks launched and 5G smartphones hitting the market, America’s wireless industry is building the foundation for our country’s economic recovery.”
To bring these benefits to fruition, state, local, and federal governments must work to keep 5G’s rollout on track. Delays in network infrastructure build-out or in making more licensed spectrum available would carry significant opportunity costs, according to BCG’s analysis. At a national level, every six-month delay in 5G network deployment could, on average, mean missing out on $25 billion of the potential 5G benefits from 2020 through 2030.
To arrange an interview with one of the authors, please contact Marcus Liem at +1 917 705 2844 or [email protected].
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TORONTO – Strength in the base metal and technology sectors helped Canada’s main stock index gain almost 100 points on Friday, while U.S. stock markets also climbed higher.
The S&P/TSX composite index closed up 93.51 points at 23,568.65.
In New York, the Dow Jones industrial average was up 297.01 points at 41,393.78. The S&P 500 index was up 30.26 points at 5,626.02, while the Nasdaq composite was up 114.30 points at 17,683.98.
The Canadian dollar traded for 73.61 cents US compared with 73.58 cents US on Thursday.
The October crude oil contract was down 32 cents at US$68.65 per barrel and the October natural gas contract was down five cents at US$2.31 per mmBTU.
The December gold contract was up US$30.10 at US$2,610.70 an ounce and the December copper contract was up four cents US$4.24 a pound.
This report by The Canadian Press was first published Sept. 13, 2024.
OTTAWA – Statistics Canada says wholesale sales, excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain, rose 0.4 per cent to $82.7 billion in July.
The increase came as sales in the miscellaneous subsector gained three per cent to reach $10.5 billion in July, helped by strength in the agriculture supplies industry group, which rose 9.2 per cent.
The food, beverage and tobacco subsector added 1.7 per cent to total $15 billion in July.
The personal and household goods subsector fell 2.5 per cent to $12.1 billion.
In volume terms, overall wholesale sales rose 0.5 per cent in July.
Statistics Canada started including oilseed and grain as well as the petroleum and petroleum products subsector as part of wholesale trade last year, but is excluding the data from monthly analysis until there is enough historical data.
This report by The Canadian Press was first published Sept. 13, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in the base metal and energy sectors, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 172.18 points at 23,383.35.
In New York, the Dow Jones industrial average was down 34.99 points at 40,826.72. The S&P 500 index was up 10.56 points at 5,564.69, while the Nasdaq composite was up 74.84 points at 17,470.37.
The Canadian dollar traded for 73.55 cents US compared with 73.59 cents US on Wednesday.
The October crude oil contract was up $2.00 at US$69.31 per barrel and the October natural gas contract was up five cents at US$2.32 per mmBTU.
The December gold contract was up US$40.00 at US$2,582.40 an ounce and the December copper contract was up six cents at US$4.20 a pound.
This report by The Canadian Press was first published Sept. 12, 2024.
