One of the biggest job-growth areas in the economy is something that didn't even exist until five years ago, something that required a whole new word to describe it: the app economy. The entire notion of making applications for mobile devices was invented with the introduction of the iPhone in 2007, but now it's a huge engine for our nation's economy. It created $20 billion in revenues last year, a figure that's expected to rise to $100 billion by 2015, according to new data compiled by a firm called TechNet.
It's been a big driver of the economy here in New Jersey as well. In 2011, 4.2 percent of all jobs created here were attributed to the app economy, placing our state fifth in the nation. California was way out in front - 23.8 percent of all its new jobs were app-related - followed by New York, Washington and Texas.
All told, the app industry has added an estimated 460,000 jobs to our national economy over the past five years. When you hear of older industries shedding jobs, it's important to remember that there are also innovative ones creating new jobs for hundreds of thousands of Americans.
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