Infographic Where did all the Tech Jobs Go
Often compared to the Wild West due to its reputation for risk and its frontier sensibilities, the tech industry has seen its share of booms and busts over its storied (if relatively brief) existence. In 2013, a six-year boom period came to a surprising end in the first quarter of the year. And as profits fell and layoffs ballooned, predictions for record growth were turned on their heads.
These dips in the tech sector are hardly uncommon. In fact, tech jobs also dropped in the fourth quarter of 2012, and while the decline was a mere hiccough compared to the much larger decline seen in the first quarter of 2013, it was still significant as a reminder of the volatility that characterizes so much of the modern tech industry. As 2013 progressed, tech giants such as Cisco, IBM, Oracle, and RIM reported hefty revenue losses and declining users. The large-scale layoffs that followed were an expected, if unwelcome, result.
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