Tech Industry Loses Jobs

The Tech industry has been on the rise ever since it appeared on the scene in the late 90s. However, for the first time in five years the industry has lost jobs over a twelve month period.

For the first time in half a decade, the U.S. tech industry in 2009 slashed large numbers of skilled workers from its payrolls. The findings, disclosed in a technology trade group’s annual analysis of employment and wage trends in the industry, could slow an overall improvement in the U.S. economy, the group concluded.

Technology companies eliminated 245,600 jobs in 2009, or 4% of the industry’s 5.9 million U.S. workers, according to the latest Cyberstates report released Apr. 28 by TechAmerica, a industry group representing 1,500 companies in electronics, software, and telecommunications. It was the first time the technology industry eliminated jobs since 2004.

Of course, this isn’t because of any decreased importance of the Tech industry’s. It is because of the recession, which has caused Tech jobs to dry up. In fact, the Tech industry has weathered the recession better than almost all other industries.