The Knowledge-Intensive Services Industries US – 18 Million jobs and high wages

The commercial knowledge and technology-intensive (KTI) industries play a big role in the U.S. economy. The larger component of KTI industries—the knowledge-intensive (KI) services industries—employed 18 million workers and produced 22% of U.S. gross domestic product (GDP) in 2012. The smaller component—the high technology (HT) manufacturing industries—employed 2 million workers and produced 2% of GDP in 2012. Although smaller than KI services industries, HT manufacturing industries have a greater concentration of workers in S&E occupations and perform a larger proportion of U.S. research and development. Both KI services industries and HT manufacturing industries pay substantially higher wages than the private-sector average.

Three KI services industries (business, finance, and information) and six HT manufacturing industries (aircraft; communications; computers and office machinery; pharmaceuticals; semiconductors; and testing, measuring, and control instruments) classified by the Organisation for Economic and Cooperation and Development are discussed in this report.[2] (Note: Because various data sources used in this report classify industries differently, different numbers may be reported for KI and HT industries.)

KTI Industries in the U.S. Economy

In 2012, KTI industries produced $3.8 trillion in value-added output, nearly one-fourth of the U.S. GDP (figure 1, table 1). The three KI services industries contributed the largest part by far, producing 22% of the GDP. KTI industries perform three-fourths of U.S. business R&D, an important source of innovation and economic growth.[3] The six HT manufacturing industries alone performed nearly one-half of U.S. business R&D.

Chosen excerpts by Job Market Monitor. Read the whole story at  nsf.gov – NCSES U.S. Knowledge-Intensive Services Industries Employ 18 Million and Pay High Wages – US National Science Foundation (NSF).