High-tech job growth picked up in 2006, says AeA
By ESM Staff Electronics Supply & Manufacturing (04/25/2007 12:55 AM EST)
Demand for high-tech workers, including those in the engineering field, is rising so rapidly that employers are scrambling to fill vacancies despite being willing to pay well above private sector wages, according to the American Electronics Association.
The AeA's latest analysis of 2006 employment data from the U.S. Bureau of Labor Statistics indicates most segments of the high-tech sector are in a state of full employment confirming recent comments by industry leaders that many critical high-tech positions are remaining vacant for far too long.
Engineers in the electronics industry who have complained about the relocation of manufacturing and design services to overseas locations will be surprised that the impact of outsourcing on employment in the sector has been negligible.
According to the Labor Dept. data, the unemployment rate for U.S. engineers in 2006 was 1.9 percent and 2.5 percent for computer scientists, both well below the national average.
Overall, high-tech companies added almost 150,000 net jobs in 2006, up 3 percent from the preceding year, to 5.8 million, according to the AeA, which observed that the software services sector accounted for more than half of the hiring. In 2005, high-tech employment rose 87,400.
"We have some serious challenges ahead," said William T. Archey, president of the AeA, in a statement. "Companies of all sizes continue to have problems recruiting highly qualified and educated individuals to work for them, whether those individuals are foreign or domestic."
The AeA noted that the 2006 average annual high-tech wage of $75,000 was "86 percent more than the average U.S. private sector wage," of $40,500.
That's not the only area where the high-tech sector is the clear leader. Venture capital investors are directing more of their resources to the sector, according to the AeA. In 2006, for instance, the high-tech sector received more than half of all U.S. venture capital investments or about $12.7 billion.
Demand for high-tech workers, including those in the engineering field, is rising so rapidly that employers are scrambling to fill vacancies despite being willing to pay well above private sector wages, according to the American Electronics Association.
The AeA's latest analysis of 2006 employment data from the U.S. Bureau of Labor Statistics indicates most segments of the high-tech sector are in a state of full employment confirming recent comments by industry leaders that many critical high-tech positions are remaining vacant for far too long.
Engineers in the electronics industry who have complained about the relocation of manufacturing and design services to overseas locations will be surprised that the impact of outsourcing on employment in the sector has been negligible.
According to the Labor Dept. data, the unemployment rate for U.S. engineers in 2006 was 1.9 percent and 2.5 percent for computer scientists, both well below the national average.
Overall, high-tech companies added almost 150,000 net jobs in 2006, up 3 percent from the preceding year, to 5.8 million, according to the AeA, which observed that the software services sector accounted for more than half of the hiring. In 2005, high-tech employment rose 87,400.
"We have some serious challenges ahead," said William T. Archey, president of the AeA, in a statement. "Companies of all sizes continue to have problems recruiting highly qualified and educated individuals to work for them, whether those individuals are foreign or domestic."
The AeA noted that the 2006 average annual high-tech wage of $75,000 was "86 percent more than the average U.S. private sector wage," of $40,500.
That's not the only area where the high-tech sector is the clear leader. Venture capital investors are directing more of their resources to the sector, according to the AeA. In 2006, for instance, the high-tech sector received more than half of all U.S. venture capital investments or about $12.7 billion.
Labels: BLS, employment, high-tech
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