Green Jobs Sector “Poised for Explosive Growth,” Study Says

The green jobs sector, buoyed by private investment and an infusion of federal stimulus dollars, is among the fastest-growing sectors in the U.S. economy and is poised for increased growth, according to a study published by the Pew Charitable Trusts. The clean-energy economy generated 777,000 new jobs from 1998 to 2007 — a 9.1 percent increase. Overall jobs grew only 3.7 percent during that time, according to the study. Several trends have contributed to this growth, including a surge in venture capital investment and a bump in clean-energy generation, said Lori Grange, interim deputy director of the Pew Center on the States. In 2008, for instance, the clean-energy sector received about 80 percent of venture capital investments. Meanwhile, the $787 billion American Recovery and Reinvestment Act, signed by Preisdent Obama in February, includes about $85 billion in spending and incentives for energy- and transportation-related programs. “These jobs are driving economic growth and environmental sustainability at a time when America needs both,” Grange said.