California Technology Industry Adds 14,400 Jobs

AeA has released its 10th anniversary Cyberstates report detailing national and state trends in high-tech employment, wages, and other key economic factors:

California’s high-tech industry added 14,400 net jobs — a two percent increase — for a tech industry total of 919,300 in 2005, the most current state data available. This marks the first net increase in jobs since the tech bubble began to burst in 2000. Leading the way in job creation were the computer systems design and related services sector (+7,100 jobs) and the engineering services sector (+6,400 jobs).

The report found that California continues to lead the nation by most high-tech industry metrics. California’s tech workers had the highest average wage at $95,300, which is 109 percent above the state’s average private sector wage. This differential is also the highest in the nation. Venture capital investments increased 14 percent to $12.2 billion in 2006, accounting for 48 percent of all venture capital in the country.

“This job growth in California’s high-tech industry is a boon for the state and San Diego ” said Kevin Carroll, Executive Director AeA San Diego Council. “Tech is been one of the most critical — if not the most critical – - industry for promoting economic growth, innovation, and job creation in the state. Since the bursting of the tech bubble in 2001, the high-tech industry has continued to help grow the economy and spawn innovation, but not until the release of this latest data can we say definitively that we are back in the business of creating jobs for the Golden State. And these are high paying jobs with average wages that are more than twice as high as the state’s average private sector wage.” What the data does not show is it
is not just Silicon Valley but Southern California and San Diego which has also experienced job growth.

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