NY Times: Despite soaring profits, U.S. tech companies haven't been hiring many new workers. The number of data processing and software publishing jobs has fallen recently, while unemployment for computer scientists, systems analysts and computer programmers continues to hover around 6 percent.
Experts say that the slow job growth in the U.S. is partly due to global competition. Theres been this assumption that theres a global hierarchy of work, that all the high-end service work, knowledge work, R.&D. work would stay in U.S., and that all the lower-end work would be transferred to emerging markets, said Rutgers professor Hal Salzman. That hierarchy has been upset, to say the least. More and more of the innovation is coming out of the emerging markets, as part of this bottom-up push.