U.S. could create 4.2 million green jobs by 2038

The U.S. economy could generate 4.2 million new "green" jobs in the next 30 years, about 10 percent of all the jobs created, according to a study for the U.S. Conference of Mayors released on Thursday.

The study found the United States now has about 750,000 green jobs, which generally involve producing renewable energy or providing engineering, legal or research support.

That figure represents less than 0.5 percent of all current U.S. jobs, said Global Insight, the economic research and consulting firm that did the study.

The study is the first attempt to quantify the economic opportunity presented by a drive by U.S. cities and states to boost energy efficiency and reduce greenhouse gases and the use of fossil fuels, the group said.

"We are firmly convinced that what we need in this country is a green revolution," Miami Mayor Manny Diaz, president of the U.S. Conference of Mayors, said at a news conference.

The study was released on the same day that the number of U.S. workers filing new claims for jobless benefits rose to 497,000, the highest number in seven years.

The forecast of 4.2 million new green jobs is based on the assumption that 40 percent of the electricity generated in the United States by 2038 will come from alternative fuels -- wind, solar, hydro, geothermal and biomass.

It also assumes that 30 percent of fuel used in cars and light trucks will come from alternatives to gasoline and diesel by then, and that electricity use in existing buildings will drop by 35 percent due to retrofitting.

The study said the push to increase the use of alternative fuels in transportation alone could generate nearly 1.5 million new jobs in the next three decades.

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Source: Yahoo News