Four years after the peak of the financial crisis, the engineering profession continues to rebuild itself. The job growth rate might be modest compared to prerecession numbers, but hiring is increasing, salaries are up, and long-term job prospects look good, most notably in the United States but also in the BRIC countries—Brazil, Russia, India, and China.
Not surprisingly, electrical and computer engineers are still generally in demand at high-tech companies, consulting and finance firms, research institutions, and in government.
According to the U.S. Bureau of Labor Statistics, the unemployment rate in the United States for electrical engineers and computer engineers at the end of 2012 was 3.3 percent and 2.8 percent, respectively, compared to the general rate of 3.9 percent for people with bachelor’s degrees. (However, there was a sharp spike—to 6.5 percent—in unemployment in the first quarter of this year for U.S. electrical engineers, although still lower than the record-setting level of 8.6 percent in 2009.)