Is There a Shortage of People for STEM Jobs?
Posted January 4th, 2016
Much has been made recently of the shortage of workers in science and technology, specifically in those areas designated by the acronym STEM, for science, technology, engineering, and math. University students have been encouraged to go into these areas because of the perceived shortage.
But the fact is studies have shown there is no real shortage. Companies complaining that they cannot find people in these areas are actually laying people off.
In addition, there is still an oversupply of workers in the labor market, another indication that worker shortages are a myth.
STEM Wages are Flat
Also, if there were a real shortage in the STEM areas, you would expect to see wages for these workers rise and employers compete for the small labor supply. But, in fact, this is not happening. According to the Bureau of Labor Statistics, the wage growth for STEM jobs, even those in information technology, is considered low to moderate, at less than 3 percent across the board. For example, in 2009, nominal wage growth for people in computer and mathematical occupations was 3.3 percent, and this growth declined to 2.2 percent in 2014. For engineering jobs, wage growth declined from 3.6 percent in 2009 to 1.9 percent in 2014. And for life, physical, and social science jobs, the wage growth declined from 3.2 percent in 2009 to 1.3 percent in 2014.
Why are Employers Complaining?
This leads to the question of why employers believe they cannot find enough workers. The answer probably lies in the mismatch between what employers want and what they are willing to pay. Those looking for jobs would consider the salary for the positions too low for what their skills and knowledge are. Yet, the companies are unwilling to negotiate. And they are increasingly unwilling to train people.
The companies are saying they cannot find enough workers in order to enhance their position in the market and so lower their labor costs. By complaining about the shortage of workers, companies are hoping to transfer training costs onto the public. Employers are also pushing for more H1B visas for foreign IT workers.
If you are looking for work in a technology-related area, Bayside Solutions can help you. Because Bayside specializes in the science and technology workforce, Bayside has the experience and the expertise to find the right job to fit your skills and experience. Give Bayside Solutions a call today.
