High Tech Loses Fewer Jobs, Recovers More Slowly
The high-tech industry lost fewer jobs than the private sector between June of 2008 and June of this year, but the private sector has rebounded faster during the first half of 2009, according to the TechAmerica Foundation.
Tech America's findings are based on U.S. Bureau of Labor Statistics data and show that the high-tech industry lost 224,100 jobs between June 2008 and June of this year, a 3.7 percent decline. Over that same time period, the private sector as a whole reported a loss of 5.1 percent.
While the technology industry contracted at a slower rate over the entire year in comparison to the private sector, the private sector reported a steady 0.2 percent growth in the first half of this year. In contrast, the high tech industry reported a 1.9 percent decline.
During the first half of this year, high-tech manufacturing reported the greatest losses-69,500, a 5.7 percent decline. During the same period, technology service providers lost 45,500 jobs, engineering and service tech lost 21,500, communications services lost 13,600 and software services lost 10,400.
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