Report shows importance of semiconductor industry to U.S. economy
AeA (formerly the American Electronics Association) released its 11th annual "Cyberstates 2008" report recently, detailing national and state trends in high-tech employment, wages, and other key economic factors for all 50 states, the District of Columbia, and Puerto Rico. TI has been a long-time, active member of AeA.
The report shows that in 2007, the high-tech industry – which largely depends on semiconductors – continued growing, adding 91,400 net jobs for a total of 5.9 million employed in the U.S. This marks the third straight year of high-tech job growth with 139,000 jobs added in 2006 and 87,400 jobs added in 2005.
"Tech jobs make critical contributions to the U.S. economy in terms of innovation," said AeA President and CEO Christopher Hansen.
Semiconductor Industry Association (SIA) President George Scalise said, "'Cyberstates 2008' demonstrates that semiconductors are America's lifeline. Semiconductor technology fuels job growth and furthers our high standard of living."
The gathering storm
SIA cited "Cysterstates 2008" as further evidence that Congress should act this year on the unfinished components of an innovation agenda that would allow the semiconductor industry to continue producing high-paying jobs in America.
That agenda, which has the bipartisan support of Congressional leaders and the President, includes:
- Enhanced federal support for basic research.
- Reformation of high-skilled immigration rules to attract and retain more highly educated foreign-born professionals.
- Securing a permanent and strengthened R&D tax credit.
These recommendations are part of the "Gathering Storm" report, the President's American Competitiveness Initiative and the Democratic Innovation Agenda. TI supports these initiatives.
AeA's Hansen said, "AeA is concerned that future growth is being jeopardized unless the United States prepares itself for a vastly more competitive global marketplace. The tech industry and the country risk an impending slide in U.S. global competitiveness caused by negligence on the part of our political leaders to adequately invest in scientific research, improve our education system, and allow the best and brightest from around the world to work in the United States."
Texas second in tech job growth
On a state-by-state basis, "Cyberstates 2008" shows that 48 states added jobs in 2006, the most recent data available. California led the nation, adding 21,400 net jobs. The next largest net gains in tech employment between 2005 and 2006 occurred in Texas (+13,700) and Virginia (+ 9,800).
Texas once again took the No. 2 ranking in the tech jobs category, behind California and ahead of New York. Texas' new 13,700 jobs made for an industry total of 459,500 in 2006 – the most current state data available.
Additionally, the high-tech industry in Texas paid out $37.5 billion in payroll in 2006. The Texas average tech industry wage in 2006 was $81,600 – 88 percent higher than the state's average private sector wage.
For more information, see www.aeanet.org/cyberstates.
Source: "Cyberstates 2008" is based on U.S. Bureau of Labor Statistics data.