Tuesday, June 06, 2000

Jobs, cash keep pouring in.com

Study says Net workers doubled in '99

By Cliff Edwards
The Associated Press

        SAN FRANCISCO — The number of people employed in Internet-related jobs doubled last year to 2.5 million as the industry enjoyed a 62 percent jump in annual revenues, according to a new university study that highlights the increasing importance of the digital economy.

        The study found that the entire industry generated nearly $524 billion in revenue in 1999, up from a readjusted $322 billion a year earlier. Researchers examined 3,000 U.S. companies that generate all or part of their revenues from selling goods, creating hardware or software or acting as support or intermediaries for Internet transactions.

The study is available at:
        Data for the study were collected and analyzed by MarketVision Research of Blue Ash.

        The fastest-growing category was e-commerce, which saw a 72 percent increase in revenue to $171.4 billion from $99.8 billion a year earlier as traditional retailers such as Sears, Roebuck embraced Internet sales and companies increasingly bought goods online.

        “This economy is not only growing rapidly, it is becoming more and more productive,” said Anitesh Barua, who conducted the study for the Center for Research on Electronic Commerce at the University of Texas-Austin.

        Researchers estimated that more than 50,000 companies generate some or all of their revenues online.

        Researchers predicted the Internet economy could top $1 trillion by early next year despite indications many online businesses will run out of cash or cease operations by year's end.

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