If the FCC adopts the net neutrality rules it is now considering, close to 1.5 million jobs across the U.S. economy could be put in jeopardy by 2020, and revenue growth in the broadband industry would slow by about one-sixth during that time frame, said the study, by Coleman Bazelon, a telecom economist with The Brattle Group.

Bazelon predicted that spending in the broadband industry would decrease by US$5 billion in 2011 if the FCC passes formal net neutrality rules, with the number growing in subsequent years.

"The FCC should be careful in developing any net neutrality rules, to not undermine its own goals of promoting broadband and employment," Bazelon said during a press conference Friday.

Broadband deployment in the U.S. is a "success story," the study said. About 95 percent of U.S. residents have fixed broadband available, and 98 percent have 3G mobile broadband available, the study said.

"Any change in the rules affecting broadband should be well-considered so as not to harm its future development," the study added.