Technology: a driving force in the U.S. Economy
"The U.S. economy ...will grow a lot faster than Japan's or the European Union's. Labor productivity and population are growing much faster in the U.S. than in the world's other two major economies...technology is also a driving force."
-- Fortune, March 17, 2003
Choosing a new career is a long and complex process. The current economic downturn means that longer-term job trends have to be considered. There is no doubt that technology will be one of the decisive factors that allow the economy to recover in the years ahead. Ergo, with a qualification in technology you could be hot property in the future job market.
Technology in Entertainment
Intuitively, information technology is associated with commerce and technical industry. However, the last decade has seen an increasing development of entertainment applications, and leading this growth is that of computer gaming. The ITAA (Information Technology Association of America) reports that this sector of the industry has been largely unaffected by the economic downturn, and that it is set to continue its expansion.
Technology in Defense
Defense industries are poised for a boost, with an expected increase in their spending over the next three years. Chief U.S. Strategist Rich Bernstein and his team at Merrill Lynch forecast growth for the defense technology sector, with particular weight in the middle range companies that work with the government on innovative technology.
Innovative Technology
Computer networking has been the major technical trend of the last ten years, and this is set to go through the next stage of development. Wireless technologies are coming of age, and networking will be transformed by the versatility that this injects. Add to this the idea of convergence technology; the coming together of computing, telecommunications and media (TV and audio), and technology is set for an explosion of new ideas an applications across business, communications, and the entertainment industry. These innovations will means that there is a demand for a whole new set of skills; skills that you could learn on a technology degree program.
Hot Degrees for the Future: Technology
In anticipation of a technology boom in some areas, managers need to be prepared for the future. Clearly, individuals holding a relevant degree will be at an advantage. The countrys more progressive schools and colleges offer degrees in almost any aspect of technology, from Web Design to Electronics Engineering Technology, Information Systems, Information Technology, and Telecommunications management options.
For most degrees you can choose a campus or online version, the latter being a particularly attractive option for managers who wish to continue working at the same time. Some schools offer a combination of formats, incorporating the best of campus and online elements.
Technology Rewards
Investment in a technology education is a good bet for the future. Salaries in the sector are above average and, according to the US Department of Labor, Information Systems Managers were earning up to $127.460 per annum in 2000, with a predicted percentage rise of 144.8% between 2000 and 2010 for some categories of the computing professions. Despite the economic downturn, there is still a shortfall of some 450,000 vacancies according to the ITAA.
No one can gaze into a crystal ball and be sure of the future. However, if you consider your future in an industry that has a shortfall of technically qualified employees, you can safely predict that a technical degree is likely to give you the advantage you need to succeed.
References
- US Census Bureau
- Fortune
- US Bureau of Labor Statistics
- PC Magazine
- Information Technology Association of America
- US Department of Education
