According to the report, manufacturing jobs in the state dropped by 14.7percentt between March 2001 and March 2003, information technology jobs by 14.9percentt and financial jobs by 6.5percentt.
In fact, the share of college graduates with a specialization in information technology is dropping.
The losses were driven by drops in shares of information technology and utilities companies, which declined after weaker-than-expected earnings forecasts.
The company, based in Hopkinton, Mass., reported a decline in quarterly profit and a 31percentt drop in revenue as companies continued to be reluctant to spend money on information technology.
Nine out of 10 S.& P. sectors saw gains in the quarter, with utilities dropping about 3 percent and financial and information technology stocks up the most, each about 21 percent.
When spending on information technology by large companies dropped in 2001, the technology companies turned their attention to small and medium businesses, generally defined by the industry as those with fewer than 1,000 employees.
The county will be under greater downward pressure from the sharp drop in new orders for information technology products.
The Maharashtra government, which charged the cartoonist with sedition, disrespect of a national emblem and violation of India's information technology act, is considering dropping the sedition charge, officials said Wednesday.
"Our information technology budget has been dropping about 10% per year in the last two years since we went virtualized," says Richard Romano, director of network operations and information technology at Perkins.
According to trade association Nasscom, the Indian BPO industry has just seen its largest employment drop in seven years, while its information technology (IT) sector saw its second year of increasing unemployment.
