President Obama's stratergy to create jobs has been given new push. The $825-billion stimulus plan presented this month by House Democrats called for $37 billion in spending in three hi-tech areas: $20 billion to computerise medical records, $11 billion to create smarter electrical grids and $6 billion to expand high-speed Internet access in rural and underserved communities.
According to a study published this month, an investment of $30 billion into those three fields could produce more than 900,000 jobs in the first year. Besides creating jobs, advocates are of the view that government investment in these technology fields holds the promise of laying a lasting foundation for more business innovation and efficiency, while helping to create new digital industries.
The technology industry is not typically viewed as a prolific job producer. Much of its manufacturing is automated. But bringing technology to services fields like healthcare, telecom and energy can be labour-intensive and thus generate jobs. The job-generation estimate by the Information Technology and Innovation Foundation translates into more than 30,000 jobs created for each $1 billion of government investment