5G will employ ‘hundreds of thousands’ of Americans: Kudlow
5G in the US is now full throttle
The 5G buildout is not only pumping hundreds of billions of dollars into the U.S. economy, but it’s also going to employ hundreds of thousands of Americans, White House economic adviser Larry Kudlow told FOX Business on Friday.
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“And we're just getting started,” Kudlow said during an interview with Stuart Varney.
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Kudlow added that people are already benefitting from jobs on different spectrum ranges.
“Whether it’s high band in the cities or mid-band in the rural areas -- that's already beginning – that’s a whole new factor,” he said, “these are Schumpeterian gales of creative destruction—technology leads the way.”
Earlier this week, the Verizon CEO Hans Vestberg said the U.S. transition to 5G is happening at a faster rate than 3G and 4G.
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Kudlow’s comments come on the heels of a strong November jobs report, which showed that the U.S. economy added 266,000 jobs and the unemployment rate dropped to the lowest rate in 50 years.