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Tech Holds Ground Amid Slump

Growth slow, but still up; unemployment below average—no dot-com bust here

By Nick McMaster,  Newser Staff

Posted Jul 9, 2008 7:10 PM CDT
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(Newser) – Despite malaise in most sectors of the economy, the technology industry is weathering the downturn well, USA Today reports. Sales are up only 3% this year over 2007—a mediocre result, considering the industry usually grows by more than 10%—but with tech unemployment at 3.9% compared to 5.7% overall, insiders aren't seeing the trouble signs they saw during the dot-com collapse of 2001.

Employees’ experiences match the numbers: many told USA Today that while business is not great, they were not seeing general declines. Sales are kept high, in part, by the fact that computers and certain software are essential to doing business: "Companies depend so much on technology. In many cases, they'd rather cut back on other things," one tech analyst said.

Intel Corp. Chief Sales and Marketing Officer Sean Maloney announces Intel's new 3 series chipsets at the 27th annual Computex Taipei.
Intel Corp. Chief Sales and Marketing Officer Sean Maloney announces Intel's new 3 series chipsets at the 27th annual Computex Taipei.   (AP Photo)
Circuit City sales associate Anthony Ramos of Boston uses a portable computer to explain features and pricing of wide screen televisions to customer Dennis Pereira.
Circuit City sales associate Anthony Ramos of Boston uses a portable computer to explain features and pricing of wide screen televisions to customer Dennis Pereira.   (AP Photo)
Dell Inspiron 1525 laptops on display at Best Buy in Mountain View, Calif., Thursday, May 29, 2008.
Dell Inspiron 1525 laptops on display at Best Buy in Mountain View, Calif., Thursday, May 29, 2008.   (AP Photo/Paul Sakuma)
At lunchtime, everybody talks about (the economy), on tech executive says. But it's still tough to find good engineers ... (and) we've not seen a change in our growth.
"At lunchtime, everybody talks about (the economy)," on tech executive says. "But it's still tough to find good engineers ... (and) we've not seen a change in our growth."   (AP Photo)
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Doing well in Silicon Valley
Christian Science Monitor

IT pros in the US employed at a record level
ITBusinessEdge

 
technology • growth • credit crisis • computer • sales slump • tech industry • downturn

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