California's Tech Industry Loses 123,000 Jobs in 2002.Business Editors/High-Tech Writers WOODLAND HILLS, Calif.--(BUSINESS WIRE)--Nov. 19, 2003 California's high-technology industry lost 123,000 jobs between 2001 and 2002, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Cyberstates 2003: A State-by-State Overview of the High-Technology Industry, a new analytical report released today by AeA. Cyberstates 2003 shows that California's tech industry dropped by 11 percent in 2002 to 995,000 workers. "The latest Cyberstates data clearly show that California's high-tech industry was hit hard last year by the economic slowdown For articles with similar titles, see Slow Down (disambiguation). A slowdown is an industrial action in which employees perform their duties but seek to reduce productivity or efficiency in their performance of these duties. ," said Dave Wood, executive director, AeA Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. . "We are hopeful that the resiliency The ability to recover from a failure. The term may be applied to hardware, software or data. of our industry will prevail and that high-tech employment will begin to grow again in the near future." Cyberstates 2003 also examines tech exports and venture capital investments. California exported $44 billion worth of high-tech goods in 2002, compared to $56 billion in 2001, a 21 percent drop. Similarly, venture capital investments in California dropped by 43 percent, falling from $16 billion in 2001 to $9 billion in 2002. Nationally, Cyberstates 2003 shows that high-tech employment fell by 540,000 jobs, dropping to 6 million in 2002. However, using preliminary data, we estimate that the tech industry will lose 234,000 jobs in 2003. For the first time, Cyberstates 2003 is based on the newly implemented North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. Industry Classification System (NAICS NAICS North American Industry Classification System ). This more current and comprehensive system allows us to capture several sectors, which we could not with the previous system. These include fiber optic cable Noun 1. fiber optic cable - a cable made of optical fibers that can transmit large amounts of information at the speed of light fibre optic cable transmission line, cable, line - a conductor for transmitting electrical or optical signals or electric power manufacturers, semiconductor machinery manufacturers, and web search portals. Consequently, the data presented in this report are not comparable in any way to previous editions of Cyberstates. Cyberstates 2003 is the seventh edition of AeA's Cyberstates reports. The study includes seven chapters detailing national and state trends in employment, wages and exports. Venture capital investments and research and development (R&D) expenditures are also examined. The report includes state rankings for each indicator. Cyberstates 2003 is based on the most current U.S. government data available. AeA is the nation's largest high-tech trade association. Founded in 1943, AeA utilizes an extensive international network of offices to serve its members though advocacy, training, research and business services. www.aeanet.org |
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