Digitalization drives economic growth and employment.

Submitted 5 months ago by Alan Barry

A Brookings Institute report "Digitalization and the American workforce" offers an insight to how wage growth, job growth and numerous other economic factors are positively impacted through the digitalization of the workforce in US cities.

One of the most telling statistics is  The mean annual wage for workers in high-level digital occupations reached US$72,896 in 2016, whereas workers in middle-level digital jobs earned US$48,274 on average, and workers in low-level digital occupations earned US$30,393 on average.

Digitalization is associated with important economic benefits for cities, the higher the Mean Digital Score the higher the mean wages, the better the economic performance of the city. An excellent example is Philadelphia a city very similar in size to Sydney that was ranked 26 in 2002 and is ranked 13th today.

The future for Sydney and Australia must lie in educating and building a digital workforce. Benefits will occur if innovation and start ups are funded, so that we need more venture capital and incubators to make sure we keep up with the rest of the developed world.

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