Does America Have a STEM Supply Problem?
Georgetown University’s Center on Education and the Workforce released a report that investigates the importance of American science, technology, engineering and math (STEM) positions in the US economy and the perceived shortage of qualified STEM workers to fill them. The report finds that, contrary to popular belief, America already has enough students studying STEM related fields to potentially satiate the demand for STEM workers in the economy without seeking talent from abroad. However, they hold that a process they label ‘diversion’ redirects many students majoring in STEM fields toward employment in non-STEM areas because their professional interests and values do not correspond with traditional STEM jobs. The Center estimates that 43 percent of students that graduate with STEM majors immediately choose non-STEM jobs. It also finds that many high school students capable of entering STEM majors, as measured by their math SAT scores, choose not to because of their preferences or values.
The Center also provided some interesting statistics on the present and future of STEM professions, including:
- Wages in STEM fields are, on average, higher than wages in other fields (no matter what level of educational attainment), though healthcare and professional and managerial occupations still have higher wages
- Women and minorities are still underrepresented in STEM jobs, with women constituting only 23 percent of STEM workers. Women and minorities also make less than Caucasian men in STEM positions, though the wage gap is smaller than for other occupations.
- STEM jobs will grow to represent 5 percent of the labor market in 2018.
- Two thirds of STEM jobs will require a Bachelor’s degree or higher by 2018.
To read more about this report, check out the Executive Summary or the full report. Also note Inside Higher Ed’s discussion of the report and our previous blog posts on Georgetown Center reports: