Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Labor report indicates squeeze on tech sector

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Topic Forums » Labor Donate to DU
 
Omaha Steve Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-03-08 01:45 PM
Original message
Labor report indicates squeeze on tech sector

http://apnews.excite.com/article/20081003/D93J5T9G2.htm...

Oct 3, 2:00 PM (ET)

By BARBARA ORTUTAY

NEW YORK (AP) - The economic slowdown has started to squeeze the technology sector. So far this has not led to wide-scale job cuts, but a slowing demand for computers and other electronics may already be weighing on some payrolls.

Computer and electronics manufacturers did not grow their work forces at all in September, according to data released Friday by the Labor Department. In comparison, such companies added 5,100 jobs in August.

Telecommunications companies, meanwhile, cut 3,400 jobs in September.

Overall, U.S. employers slashed their payrolls by 159,000 in September, the most in more than five years. Many of these jobs were in manufacturing, construction, retail and financial services.

Until recently, the tech sector was considered a relatively safe haven in the turbulent economy, though by no means was it immune. But now even investor favorites like Google Inc. (GOOG) are seeing sharp declines in their stock price. The company's shares tumbled 24 percent during the third quarter.

And shares of tech bellwether IBM Corp. are down nearly 8 percent since the beginning of the week, though the company, along with Hewlett-Packard Co., had widely been considered among the safest bets amid the slowdown.

FULL story at link.

Printer Friendly | Permalink |  | Top
 
RUMMYisFROSTED Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-03-08 01:48 PM
Response to Original message
1. America has the best tech in the world!
:patriot:
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Fri Mar 24th 2017, 08:06 AM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » Topic Forums » Labor Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC