Is the worst over?

A study released today by the AeA shows jobs in the US high-tech industry fell by 113,000, or by 2%, for the first six months of 2002. The study was based on recently released US Bureau of Labor Statistics data. ‘This new report captures the downturn of the technology industry,’ said AeA’s President and CEO […]

A study released today by the AeA shows jobs in the US high-tech industry fell by 113,000, or by 2%, for the first six months of 2002. The study was based on recently released US Bureau of Labor Statistics data.

‘This new report captures the downturn of the technology industry,’ said AeA’s President and CEO William T. Archey. ‘We are, however, cautiously optimistic as the latest monthly drop between May and June 2002 shows a decline of just 700 jobs – by far the smallest drop over the last year and a half. This was also the second consecutive month of decline in the loss of high-tech jobs.’

‘Furthermore,’ Archey noted, ‘software services rebounded by gaining 3,000 jobs during the first half 2002.’

High-technology manufacturing employment had the largest decline, falling by 58,000 jobs during the first six months of 2002. Electromedical equipment was the only manufacturing sector to gain employment, jumping by 1,600 jobs during this time.

High-technology services employment also fell over the first six months of this year. Not surprisingly, communications services shed 36,000 jobs, while software and computer-related services declined by 18,700 jobs. Software services, by itself, was the only services sector to gain jobs during the first half of this year.

AeA’s Special Midyear 2002 Tech Employment Report provides a snapshot of up-to-date technology statistics. The report quantifies monthly high-tech job changes for the 18-month period between January 2001 and June 2002.It is available to AeA members for $10 and to non-members for $20.

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