Analysis Predicts Job Gain If Infrastructure Bill Wins Approval

As members of the U.S. House are reviewing President Biden’s $1 trillion infrastructure, a new report has been issued evaluating the jobs potential of the legislation.

According to the New York-based financial analysis firm S&P Global, the legislation, if passed, could spur the creation of nearly 884,000 new jobs within the next decade.

Those jobs, according to the analysis, would primarily be in the construction and engineering industries. 

The analysis, How U.S. Infrastructure Investment Would Boost Jobs, Productivity and the Economy, also indicates that the legislation, officially called the Infrastructure Investment and Jobs Act, would increase per capita personal incomes by around 10.5%.

“This will likely help offset the impact of Covid-19 on the jobs market,” the analysis contends, “providing a lifeline to the millions of unemployed workers, including many long-term unemployed, who were displaced by it.”

Updating earlier projections made by the firm on the infrastructure bill, the S&P Global analysis now contends that “in real dollar terms,” the legislation will “create more in economic activity than it would in cost. In particular, we estimate that a $1 trillion investment in infrastructure would add $1.4 trillion to the economy over an eight-year period.”

As approved in the Senate, the infrastructure bill includes $110 billion for new road construction and existing road upgrades; $73 billion for power infrastructure; $66 billion for freight and passenger rail projects; and $65 billion for the building of new broadband access.

The legislation is expected to be finally voted on in the House during the last week of September.

​By Garry Boulard

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