Study shows 4% of U.S. workforce and 7% of GDP come from green economy's $1.3 trillion in sales
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A new study released by Palgrave Communications Tuesday estimates that the U.S. “green economy” employs 9.5 million people and cranks out $1.3 trillion in annual sales revenue. That’s 4% of the nation’s workforce and 7% of the gross domestic prodStudy shows 4% of U.S. workforce and 7% of GDP come from green economy's $1.3 trillion in sales
A new study released by Palgrave Communications Tuesday estimates that the U.S. “green economy” employs 9.5 million people and cranks out $1.3 trillion in annual sales revenue. That’s 4% of the nation’s workforce and 7% of the gross domestic product. It’s also 16.5% of the global green economy. U.S. green sales rose 20% between 2013 and 2016, and they are expected to rise further as more efforts are made to reduce the impacts of the climate crisis. During that same four-year period, the coal industry saw the loss of another 37,000 jobs. The study found especially big increases in renewable energy, with consultancy and wind energy rising 9.36% and 8.56% respectively in 2015-2016. That strong showing was more than three times the GDP growth rate for the same period. Competition is rising. China plans to create 13 million clean energy jobs by the end of next year. The study’s authors, Lucien Georgeson and Mark Maslin, wrote: The economic case for driving economic growth and job creation through fossil fuels has weakened based on the employment estimates in fossil fuels, and there are genuine risks of stranded assets. To safeguard US economic development and job creation, we suggest that economic, environmental and education policies need to be developed to support the US green economy in the context of global developments in the green economy. They didn’t attempt to calculate the effects on the U.S. green economy that might be produced by having fossil fuel fool Donald Trump in the White House for another four years. Read more