NEW YORK ( TheStreet) -- President Obama stressed the importance of investing in technology and education in Tuesday's State of the Union address, stating that the nation's ability to compete globally depends on innovation.
Companies like Google (GOOG) and Facebook are models of American success, Obama said, emphasizing the key role that technology will take towards creating new jobs in the country.
|President Obama delivers his the State of the Union address on Tuesday.|
During the recession, the tech industry emerged as a bright spot, showing 15% growth in jobs during 2010, compared with 11% job growth overall, according to Moody Analytics.
Unemployment in the tech sector has also remained lower than the national average.While the national unemployment rate hasn't dipped below 9% for the last year and a half, unemployment among tech professionals is around 5.3%, according to the Bureau of Labor Statistics. These rates may be even lower, say some research analysts, as government numbers rely on an outdated definition of professions that comprise the tech sector. Job cuts in the tech sector in 2010 also fell 73% year-over-year, compared to a 59% decline in overall job cuts across all industries, according to global outplacement firm Challenger, Gray & Christmas. "Tech is strategically important to employers because