Telecom Sector Shedding Jobs Big time

Crap! The sector that I put my soul into it from 1986 till early 2000, telecom sector is shedding jobs. Thank God I switched focus from telecom to Internet and social media once I left Yurie and started my first Internet company, Telezoo.  My heart still belongs to telecom though.  I’ve been doing my best to keep myself up-to-date with the latest innovation in the space 🙂

The telecommunications sector had 4,600 fewer jobs in May than in April, employing 929,500 positions in May. However, the year-over-year employment figures show a loss of 47,800 jobs since May 2009 – a nearly 4.9% increase, according to new U.S. Bureau of Labor Statistics.

Drilling down a little further, it appears that most of those job losses occurred in the wireline segment. From April 2009 to April 2010, 60,000 jobs were lost in the wireline category. (Those statistics lag a month behind the overall category segment so April statistics are the most recent available. Also, the figures are not seasonally adjusted.) In the wireless subsector, 200 jobs were lost from April 2009 to April 2010. The wireless sector accounted for 194,200 jobs in April 2010. Read more of this post