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

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.

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