As anyone who’s done hiring for web designers, Java programmers or network techs knows, there’s no shortage of technical workers; wages throughout most of the IT sector have been worse than stagnant for quite some time.
And yet not only do our kids constantly have “Take STEM courses!” beaten into their heads, but the government and business want more tech workers immigrating to the US.
Now, a survey shows there isn’t a shortage:
In looking at the latest government data available, my co-author and I found the following: In 2012, there were more than twice as many people with STEM degrees (immigrants and native-born) as there were STEM jobs — 5.3 million STEM jobs vs. 12.1 million people with STEM degrees. Only one-third of natives who have a STEM degree and have a job work in a STEM occupation. There are 1.5 million native-born Americans with engineering degrees not working as engineers, as well as half a million with technology degrees, 400,000 with math degrees, and 2.6 million with science degrees working outside their field. In addition, there are 1.2 million natives with STEM degrees who are not working.
Meanwhile, less than half of immigrants with STEM degrees work in STEM jobs. In particular, just 23 percent of all immigrants with engineering degrees work as engineers. Of the 700,000 immigrant STEM workers allowed into the country between 2007 and 2012, only one-third got a STEM job, about one-third got a non-STEM job, and about one-third are not working.
But enough about the statisticians – what is the market saying?
Wage trends are one of the best measures of labor demand. If STEM workers were in short supply, wages would be increasing rapidly. But wage data from multiple sources show little growth over the last 12 years. We found that real hourly wages (adjusted for inflation) grew on average just 0.7 percent a year from 2000 to 2012 for STEM workers, and annual wages grew even less — 0.4 percent a year. Wage growth is very modest for almost every category of STEM worker as well
The drive to jam kids – especially girls – into STEM classes is just a long-term plan to drive down tech costs.
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