New Study Details Three-Year High in Tech Job Loss in U.S.

A new study detailing the magnitude of jobs losses in the U.S. high-tech sector since an economic recovery was declared three years ago was released this week.

The report, entitled "America's High-Tech Bust" found that the U.S. high-tech economy continued to lose 200,000 jobs after the recession was declared over in November 2001 by the National Bureau of Economic Research. This is the first time a report has tackled the impact of the economic bust for high-tech workers at a national level.

The report found that high-tech workers have seen a doubling of unemployment rates in the past three years and that few new jobs have been created. The University of Illinois at Chicago conducted the research for the Washington Alliance of Technology Workers, a local of the Communications Workers of America.

The report also analyzes job growth and unemployment in six key regional high-tech labor markets -- Boston, Chicago, Dallas, San Jose, Seattle and Washington, DC. Nearly every labor market except Washington DC has fewer jobs today than three years ago. The report cited offshore outsourcing as contributing to the lack of strong job creation in this sector.

The report was prepared for WashTech by the Center for Urban Economic Development, University of Illinois at Chicago. WashTech is a local union of the Communications Workers of America and is actively organizing high-tech workers throughout the United States.

You may like these other stories...

Following other recent high-profile hacking events, investigators discovered yesterday that hackers broke into the draft work paper files of several famous CPA firms. Revealing images of the scantily clad documents have been...
For bitcoin users, the taxman cometh. And you best know how to calculate taxes owed on what the IRS calls convertible virtual currency.In March 2014, the IRS issued Notice 2014-21, which declares virtual currency will be...
Earlier this year I wrote about my mixed feelings on Excel for iPad's debut. My closing sentence for that article read "The early iterations of Microsoft products tend to have rough edges that get smoothed out with...

Already a member? log in here.

Upcoming CPE Webinars

Sep 18
In this course, Amber Setter will shine the light on different types of leadership behavior- an integral part of everyone's career.
Sep 24
In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards. A dashboard condenses large amounts of data into a compact space, yet enables the end user to easily drill down into details when warranted.
Sep 30
This webcast will include discussions of important issues in SSARS No. 19 and the current status of proposed changes by the Accounting and Review Services Committee in these statements.
Oct 23
Amber Setter will show the value of leadership assessments as tools for individual and organizational leadership development initiatives.