In 2002, approximately 540,000 people in the high-tech industry in the United States lost their jobs.
At the beginning of 2002, the U.S. high-tech industry employed about 6.5 million people, and now 8% of them have lost their jobs. It is worth noting that the software industry has experienced a decrease in hiring for the first time. The number of unemployed people in the software industry in 2002 was 150,000 (picture). This is the seventh year since AeA began publishing its survey report, and this is the first time that the number of employees in the software industry has decreased. The report also released employment forecasts for 2003. Although the number of employment in 2003 continued to show a downward trend, the decrease was only equivalent to about 40% of that in 2002, to 234,000 people.
Although AeA did not specifically point out, the increase in unemployment can be said to be caused by fierce competition with other countries. It is particularly affected by competition with China and India. Of the 540,000 people, 233,000 are in the manufacturing sector, accounting for 43%. Companies in the manufacturing sector are accelerating their move to China. AeA President and CEO William Archey believes that while the U.S. government is investing in basic technology research, it must also strengthen educational investment in the field of mathematical physics. "We invested money 20 or 30 years ago but have never replenished it. Are we going to sit back and wait for nothing to happen?" (Archey)
Judging from the survey reports of each state, the states with the largest number of high-tech industry employees are California, Texas, New York, Florida, and Massachusetts. In terms of the number of unemployed people, California has the largest number of people, reaching 123,000, equivalent to about 11% of all employment in the high-tech field. This was followed by Texas with a decrease of 61,000 people (accounting for 11% of all high-tech employment), Massachusetts with a decrease of 40,000 people (13%), New Jersey with a decrease of 29,000 people (12%), and New York State. A decrease of 28,000 people (8%). Colorado lost 27,000 people, accounting for 13% of all employment, which is a particularly prominent proportion. However, the number of people employed in the state's high-tech industry accounts for 9.8% of the state's population, which is also the region with the highest proportion.
Amid the general trend of declining employment, Washington, D.C., is an exception. Affected by the increase in the military budget, employment in high-tech industries increased by 2,200 people.
In 2002, the total export volume of the U.S. high-tech industry reached US$166 billion, which was still 12% less than in 2001. The only area where exports did not decrease was electronic medical equipment. Venture capital investment in the high-tech sector fell to $13 billion, only 52% of the previous year.