Wireless Spectrum Auction—The latest wireless spectrum auction was a key step toward next-generation 5G wireless networks. Many blocks of spectrum in the auction were reserved for the industry’s smaller players, which will allow more competition during the coming 5G era.
Employment—The telecommunications industry’s labour force includes a high share of sales, service, and IT professionals. These are jobs that are becoming easier to fill abroad, limiting industry employment as a result.
Consumers—With consumer spending expected to decelerate amid slower job growth and weaker wage gains, household spending on discretionary telecommunication services is unlikely to improve, which will weigh on the industry’s financial performance.