Will the Last Techie Turn off the Lights?

The WSJ highlights some interesting findings from a recent Sphere Institute report:

More than half of the people working at technology companies in California in early 2000 had left the technology field or the state by the end of 2003, and more than 40% experienced declining incomes over that period, according to a study on the impact of the tech bust.

Then again, those who stayed behind in the tech sector didn’t do so badly:

Those that [stayed a tech firms] enjoyed rising incomes — up 11% after accounting for inflation. But workers who left tech for other industries saw their wages stagnate or decline. Those who shifted from semiconductor makers to health care, for example, made 31% less in the fourth quarter of 2003, compared with the first quarter of 2000, after accounting for inflation.

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Comments

  1. b7j0c says:

    More interesting factoids: during the “bust” San Jose showed the worst unemployment numbers since the depression.
    It still isn’t much better. The politicians go to Ohio and tell steel workers they are “regular folks” and bemoan the unemployment in the rust belt, but they are ignoring the much higher numbers of unemployed in IT…its not even close. San Jose lost more workers than the entire number of unemployed in the state of Ohio.
    But tech workers don’t have a common voice so they are brushed aside. Also GWB absolutely loathes California, lets face it, the man is cheering on the fiscal meltdown in this state.

  2. BOPnews says:

    Technical Crash

    Will the last techie please turn out the lights? And from the comments in that post: It still isn’t much better. The politicians go to Ohio and tell steel workers they are “regular folks” and bemoan the unemployment in the…

  3. The faces behind the numbers

    Paul Kedrosky of Infection Greed and Matt Stoller of BOP News are taking about unemployment in the IT sector.