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2001 hi-tech worker demand falls 52% to 1996 level

Open programming positions fell 64.3% in 2001

Data from the MIT online employment agency reveals the demand for hi-tech workers, based on the number of want ads for communication and computer personnel, has dropped by 52% in 2001 compared to 2000. General demand for workers dropped 34%.

The sharp drop took demand back to its 1996 level.

In December 2001 alone the demand for hi-tech workers dropped by 8.5%.

MIT CEO Idit Padan said that in most sectors in 2001, demand for workers shrank by half or more. Demand for senior executives was particularly reduced, having fallen 63.2%, as did demand for programmers, which fell 64.3%.

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The decrease in demand for hi-tech workers in the second half of 2001 was substantially worse than in the first half. In the first two quarters of 2001, the demand fell by 24% per quarter. In the third quarter it plunged by 50%, and in Q4 an additional 42% drop was recorded.