New report finds 4G network investments could create 700,000 new jobs

A new report by Deloitte accounting found wireless telecommunications investments could help create hundreds of thousands of new jobs in the U.S.

The report, "The Impact of 4G Technology on Commercial Interactions, Economic Growth and U.S. Competitiveness," stated between 371,000 to 771,000 jobs would be created if more companies invest in fourth generation (4G) cellular wireless networks over the next five years.

According to the report, the future of cloud computing will also help the country take advantage of the technology's potential and lead to additional job growth.

The report also found South Korea, China and Sweden are helping to spur global competition in 4G technology.

Meanwhile, AT&T's expansion into the Jackson Michigan area is expected to help create more regional jobs.

The company recently announced its proposed merger with T-Mobile USA will help further expand the network in the Jackson area. AT&T said that if the deal with T-Mobile is approved, it will allow them to offer 4G service to more than 97 percent of customers in the U.S.

AT&T currently operates the country's largest wireless network with more than 26,000 hotspots that provide coverage in the U.S.