Mike Mandel is the best economist I know and he’s predicting that the fastest growing job segment in the recovery that is starting will be in communications.
Mike’s Second Law of Booms and Busts says that jobs that tend to recover in the bust also tend to lead the boom. So, looking at the stats that are being published now on new job growth, what does Mike see? The latest batch of stats from Washington show a surge of jobs in the broad categories of “internet publishing and search,” “computer systems design,” and “wireless.”
Mike is interpreting these numbers to mean that a broadly-defined media boom will lead the US economy for the years ahead. By “media,” he includes health-care related apps (Future Well), mobile payments via cell phones, and all Facebook-Google-Apple platform stuff.
I would also include education, which is undergoing a massive de-massing and switch to social media platforms. When you add the University of Phoenix and IDEO together (they’ve partnered), you get massive change. And I would add government as well. Yep, a big chunk of business now being picked up by the innovation consultancies such as IDEO is federal government business. This will boom as states and cities join the revolution.
Very cool analysis by Mike—who is forming his own media company called Visible Economy—to play his hunch. Hear that VCs?
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