Unemployment Rate for Electrical Engineers Soars to New Record, Engineering Jobless Rate Up for Second Consecutive Quarter
"Technology drives our economy, which means engineering unemployment is a bellwether for recovery and job creation," IEEE-USA President
The news for EEs was particularly bad as the jobless rate more than doubled from 4.1 percent in the first quarter to a record-high 8.6 percent in the second. The previous quarterly record was 7 percent, in the first quarter of 2003.
For all engineers, the unemployment rate jumped from 3.9 percent in the first quarter to 5.5 percent in the second quarter. The rate for computer professionals steadied at 5.4 percent, after a significant jump in the first quarter. The second-quarter unemployment rate for all professional workers showed a modest uptick, from 3.7 percent to 4.3 percent.
The BLS reports that 29,000 EEs were unemployed in the second quarter, up from the first-quarter figure of 13,000. On a small positive note, the number of employed EEs seems to have stabilized, actually rising 2.3 percent quarter-to-quarter, but at levels well below those of the past decade.
"Taken together, these data may suggest that engineers laid off last year and early this year are having trouble securing the new engineering jobs being created," Day said.
IEEE-USA advances the public good and promotes the careers and public policy interests of more than 210,000 engineers, scientists and allied professionals who are U.S. members of IEEE. IEEE-USA is part of IEEE, the world's largest technical professional society with 375,000 members in 160 countries. See http://www.ieeeusa.org.
SOURCE IEEE-USA (Institute of Electrical and Electronics Engineers)
More by this Source
App-E-Feat Mobile App Development Contest to Benefit Humanity
Mar 28, 2014, 16:37 ET
IEEE-USA Releases First in a Series of E-books on Women in Engineering
Mar 27, 2014, 12:22 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.