An industry that didn't exist five years ago, now provides jobs for almost half a million Americans, some new research shows.
More precisely, 466,000 people are working towards delivering applications across the available platforms, according to the study sponsored by TechNet - a network of technology CEOs and senior executives that promotes the growth of the innovation economy.
The report about the emerging app industry, published a couple of days ago, aims to highlight the undeniable role of innovation in growing the economy.
The researchers discovered there is a close connection between the most valuable tech company in the world and the new industry. Rey Ramsey, President and CEO of TechNet, explains "America's App Economy - which had zero jobs just 5 years ago before the iPhone was introduced - demonstrates that we can quickly create economic value and jobs through cutting-edge innovation."
Dr. Michael Mandel, the report's author and President of South Mountain Economics, pointed out that the app industry and the whole communication sector "has been a leading source of hiring strength in an otherwise sluggish labor market."
Unsurprisingly, California, the home of Silicon Valley is the state with the largest percentage of app economy jobs, with 23.8%. When it comes to the metropolitan areas with the highest percentage of app economy jobs, New York takes the lead with 9.2%, though San Francisco is not far behind with 8.5%.