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Of course, this global U(1) symmetry defines, as any continuous global symmetry, a conserved charge, called the Noether charge of the corresponding symmetry. It's the starting point to define interactions via gauge theory, i.e., you make this global symmetry local, which means to introduce a vector gauge boson (which is massless in the most simple realization of the gauge principle). The result is, roughly speeking, QED. Of course, the global symmetry is still a symmetry, and thus the Noether charge is still conserved, and indeed now that we coupled the photon to the Dirac field, it's interpreted as the electric charge, and its conservation is necessary for local gauge invariance, as is also known from classical electrodynamics, where the Maxwell equations alone imply necessarily charge conservation as an integrability condition, i.e., it follows without using the equations of motion for the charges.PeterDonis said:This is true of any quantum theory--multiplying everything by a constant phase changes nothing. So if that's what's meant by global U(1) symmetry, I don't see how the concept is of any use. I also don't see how you get a conserved charge from it.
In non-relativistic QT, the U(1) symmetry also leads to a conserved charge. For the Schrödinger field the charge density is ##|\psi|^2##. Thus in the case of non-relativistic QT the global U(1) symmetry ensures that a once normalized single-particle state stays normalized via time evolution.