Published on septiembre 6th, 2009 | by admin0
In Silicon Valley, the Jobs Picture Has Changed.
After a downturn, the business landscape never looks the same. Just look at what happened to employment in Silicon Valley after the high-tech downturn of 2001.
According to data from the Bureau of Labor Statistics, employment in Silicon Valley high-tech industries — which were among the most heavily damaged in the storm — fell by 17 percent from 2001 to 2008. But that doesn’t tell the whole story. Some industries were winners and others were losers after the shakeout.
Three winners were pharmaceuticals, aerospace and scientific research, which posted impressive job growth, on a percentage basis, over the 2001-8 period, according to the bureau.
Out of 11 industries analyzed, though, eight lost employment. Hit especially hard were communication equipment manufacturing, semiconductor manufacturing and control instrument manufacturing.
Across the board, though, wages rose — by an average of 36 percent over the period.