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High tech is an abbreviation of "high technology," which is a generic term referring to a broad range of industrial classifications and innovation. A study funded by the Workforce Information Council identified the high-tech sector to be that which includes a high concentration of workers in what is referred to as STEM (science, technology, engineering and mathematics).
"High tech" is a term that is generally applied to economic and industrial sectors wherein technological innovation is emphasized. High-tech industries play an important role in the modern economy, and often experience significantly higher pay than other industries.
High tech has experienced significant economic growth since the 1950s, although it has often been the subject of several economic bubbles, especially since the advent of the world wide web. There has been a shift in high tech employment from manufacturing to services in recent years.