ITIF Says Better Job Growth Depends on New Innovation Strategies

August 3, 2012

WASHINGTON - Rob Atkinson, President of the Information Technology and Innovation Foundation, reacted to the U.S. Department of Labor's report today of the addition of 163,000 jobs in July with the following statement:

"The fact that job growth in July was less terrible than in previous months is nothing to cheer about. Adherents to the Washington Economic Consensus have tried everything in their tool kit and employment remains flat. We can keep waiting for miracles or we can try something new. We must stop ignoring the solutions before our eyes. As ITIF's new report Looking for Jobs? Look to IT in 2012 and Beyond shows, IT is an untapped job creator. And as an event ITIF hosted yesterday highlighted, we are holding back in investing in R&D and developing partnerships between business and government to develop and commercialize ideas than can propel us forward.

At ITIF, we continue to believe the conventional explanations for the Great Recession and halting recovery overlook the fact that we need strategies to boost innovation and competitiveness. When policymakers realize that we will never restore the pre-Great Recession economy and instead must create a new economy, based on gaining the advantage in innovation, then we can compete and win in today's global race. But until this happens, we better get used to a long pattern of feeble growth and wishful thinking."

 

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The Information Technology and Innovation Foundation (ITIF) is a Washington, D.C.-based think tank at the cutting edge of designing innovation strategies and technology policies to create economic opportunities and improve quality of life in the United States and around the world. Founded in 2006, ITIF is a 501(c)(3) nonprofit, non-partisan organization that documents the beneficial role technology plays in our lives and provides fact-based analysis and pragmatic ideas for improving technology-driven productivity, boosting competitiveness, and meeting today's global challenges through innovation. For additional information, visit ITIF at www.itif.org or contact Steve Norton at (202) 626-5758 or snorton@itif.org.