Social networking giant Facebook has helped create more than 180,000 jobs in the United States, a new study has found.
According to The Facebook App Economy study conducted by University of Maryland’s Robert H. Smith School of Business, the popularity of Facebook among the masses and businesses has created a new industry called the ‘app economy’, which focuses on making applications for its 750 million + users.
The study conservatively estimates that the Facebook app economy has created 182,744 new jobs and $12.19 billion in wages and benefits for the U.S. economy.
The study not only considered the jobs that are directly created by the Facebook app economy but also the ones in other parts of the economy that are support the app developers and those which are created as the spending power of app developers increases.
“Our findings confirm that social media platforms have created a thriving new industry. As Facebook and other platforms grow, we will continue to see job growth and the ripple effects of these advances in the U.S. economy.” said Il-Horn Hann, director of centre and associate professors of information systems.
The researchers used app data provided by Facebook in order to conduct the study the report for which can be accessed here [PDF].