Although job loss and general unemployment has been a major concern around the country, a new report put out by TechAmerica indicates that the technology industry found throughout the state of Texas has not been hit as hard as the private sector throughout the nation. While the number of tech jobs in Texas did decline by 0.6% during the fourth quarter in 2008, the private sector experienced a nationwide decline of 1.3%.
During the past three months, Texas has reported losing 38,000 tech jobs. While this is certainly disappointing for Texas residents, it should be noted that this decline comes only one year after the state experienced the largest tech job growth in the United States. In addition, the state still boasts the second largest number of tech workers in the country, with California being the only state to have more jobs in the sector.
In addition to experiencing less of a decline in job availability, those employed in the tech sector in Texas also enjoyed an average wage that was 84% higher than the average wage among those employed in the private sector in 2007. During that same year, the state generated $35.9 billion worth of technology exports, which helped to support nearly 184,000 jobs in the state. These exports were sent to places around the world, with about $13 billion being sent to Mexico, $3.5 billion being sent to Canada and $1.9 billion being sent to South Korea. Once again, however, California managed to squeeze out Texas with $48.2 billion of tech exports.