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September 18, 2009
High-tech employment in Silicon Valley grew by 2.5 percent during 2008 even as high-tech wages fell by 1.5 percent, according the federal Bureau of Labor Statistics.
The report, which came out Friday analyzed employment and wage trends after the dot-com bubble burst in 2001 and concluded that high-tech employment in Silicon Valley dropped 17 percent from 2001 to 2008.
Nevertheless, despite the loss of slightly more than 85,000 jobs, average wages in the tech sector grew nearly 36 percent, compared with 21.7 percent for all other industries in the region and 25.5 percent across the United States over the same period.
Of the 11 industries analyzed in the report, eight industries experienced job losses and three — pharmaceuticals, aerospace and scientific research — saw gains between 2001 and 20008.
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