Thursday, June 11, 2009

Cleantech Sector Jobs Booming...With an Asterisk

According to the Pew Charitable Trusts, an independent non-profit, the fledgling renewable energy industry has grown steadily over much of the past decade, adding jobs at more than twice the national rate.

The non-profit, which focuses on improving public policy, informing the public and stimulating civic life through investments, reported that solar and wind-power companies, energy-efficient light bulb makers, environmental engineering firms and others expanded their work force by 9.1 percent from 1998 to 2007. The average job growth in all industries was 3.7 percent during the same period.

Impressive numbers, however, the report admits that its numbers end in 2007, pre-recession. Since that timeline, alternative energy companies have been hit hard by the recession, with a string of bankruptcies in the ethanol industry and layoffs in the wind-power industry.

An indicator of what's been happening recently in Cleantech is to look at the venture investment in the sector worldwide, which dropped 41 percent during 1Q09, compared to the previous quarter. This according to the Cleantech Group. To read the full Pew article, check out this link:

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/06/11/BULF184G42.DTL&type=business