Arts a bigger economic engine that previously thought

The arts are a bigger driver of gross domestic product and jobs than previously estimated, according to a new report from the National Endowment for the Arts. Among the new estimates are:

• In 2012, arts and cultural production contributed more than $698 billion to the U.S. economy, or 4.32 percent to the U.S. gross domestic product, more than construction ($586.7B) or transportation and warehousing ($464.1B).
• 4.7 million workers were employed in the production of arts and cultural goods, receiving $334.9 billion in compensation.
• Arts and cultural spending has a ripple effect on the overall economy, boosting both commodities and jobs. For example, for every 100 jobs created from new demand for the arts, 62 additional jobs are also created.

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