Productivity

Information Technology Sets Records

Information technology is now the nation's largest industry, according to a study to be released today. Computing and telecommunications have surpassed construction, food products and auto manufacturing, according to the American Electronics Association and the NASDAQ stock market, the study's sponsors.

  • The industry's sales have grown 57 percent during the 1990s -- to $866 billion.

  • The high-technology sector -- defined as telecommunications, computer hardware and software for purposes of the study -- generated 6.2 percent of the nation's output of goods and services last year and employed nearly 4.3 million people.

  • Workers in the field earn wages 73 percent higher than the average wage in the overall private sector.

  • From 1990 to 1996, employment in the high-tech sector rose 7.2 percent -- to 4.26 million.

The study was based on government data and utilized standard industrial classification codes -- which experts say is tricky in a field as broad as high-tech. Nevertheless, they say the study's methodology was fairly conservative.

Source: Steve Lohr, "Information Technology Field Is Rated Largest U.S., Industry," New York Times, November 18, 1997.

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