Tuesday, June 23, 2009
Report: California Losing Manufacturing, High-Tech Jobs
The nonprofit, economic thinktank the Milken Institute is reporting today that California is "losing a battle" with other states in retaining and attracting manufacturing jobs, including high tech, and is "hemorrhaging high-tech manufacturing jobs." The report, "Manufacturing 2.0: A More Prosperous California" cited declines in manufacturing jobs between 2000 and 2007 of 21 percent, and a decline of 23 percent in high-tech manufacturing jobs in the same period. The institute blamed an "unfriendly business climate"--specifically, comparatively high tax rates, restrictive regulations, and unsustainable government spending--for the decline.