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Technology sector lost 560,000 jobs in two years

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CIOL Bureau
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Reuters

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WASHINGTON: The U.S. technology sector, which has been battered by a downturn in corporate spending, lost about 5,60,000 jobs in 2001 and 2002, according to a study released on Wednesday by an industry trade group.

The sector's work force fell 10 percent to 5.15 million in December 2002 from 5.7 million in January 2001, according to the AeA, a trade group that represents 3,000 technology companies.

The majority of the decline was in manufacturing, which lost 415,000 jobs, a 20 percent decrease, to 1.62 million. Communications services jobs fell 9 percent with a loss of 135,000 jobs to 1.33 million jobs in December 2002.

Within communications services jobs, software services increased by 5,300 jobs to 1.12 million, according to the AeA, which said the study was based on data from the U.S. Bureau of Labor Statistics.

Software and computer-related services jobs declined by 0.4 percent, or 9,300 jobs, to 2.19 million and total high-tech services jobs fell by 144,600, or 4 percent, to 3.52 million.

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