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NSF publishes new report on the STEM labor force June 27, 2024 By: SSTI Staff Nearly one out of every four workers in the United States is now involved in a STEM occupation, and 41 percent of those STEM workers do not have an associate’s degree or higher, according to data presented in the latest NSF Science & Engineering Indicator report, The STEM Labor Force: Scientists, Engineers, and Skilled Technical Workers. The NSF S&E indicator report provides policy-relevant details about the representation of demographic groups in STEM, the STEM labor market's earnings, occupations, and industries, the geographic distribution of the STEM workforce, the degree attainment and training of workers in STEM, and foreign-born workers. The statistics may warrant some federal, state, and regional workforce-related TBED initiatives—and their resident innovation-driven companies—to revamp and broaden their approaches to training, job descriptions, employee recruitment, and hiring. STEM education and recruitment into STEM fields, particularly for underrepresented populations should increase for no other reason than the salary difference between STEM and non-STEM occupations presents an opportunity for upward mobility. For evidence, the new Indicators finds median earnings for full-time, year-round STEM workers were $69,000 in 2021, while median earnings for non-STEM workers was only $49,900. The STEM workforce now translates to 36.8 million people across the country, and the Department of Labor projects growth in STEM occupations through 2032 will outpace non-STEM positions by annual rates of 7% and 2% respectively. Those STEM workers in the U.S. with college degrees at the bachelor’s level and higher overwhelmingly (90%) work in occupations related to or within science and engineering (S&E). Read more here: https://lnkd.in/eWft_8P6

NSF publishes new report on the STEM labor force June 27, 2024 By: SSTI Staff Nearly one out of every four workers in the United States is now involved in a STEM occupation, and 41 percent of those STEM workers do not have an associate’s degree or higher, according to data presented in the latest NSF Science & Engineering Indicator report, The STEM Labor Force: Scientists, Engineers, and Skilled Technical Workers. The NSF S&E indicator report provides policy-relevant details about the representation of demographic groups in STEM, the STEM labor market's earnings, occupations, and industries, the geographic distribution of the STEM workforce, the degree attainment and training of workers in STEM, and foreign-born workers. The statistics may warrant some federal, state, and regional workforce-related TBED initiatives—and their resident innovation-driven companies—to revamp and broaden their approaches to training, job descriptions, employee recruitment, and hiring. STEM education and recruitment into STEM fields, particularly for underrepresented populations should increase for no other reason than the salary difference between STEM and non-STEM occupations presents an opportunity for upward mobility. For evidence, the new Indicators finds median earnings for full-time, year-round STEM workers were $69,000 in 2021, while median earnings for non-STEM workers was only $49,900. The STEM workforce now translates to 36.8 million people across the country, and the Department of Labor projects growth in STEM occupations through 2032 will outpace non-STEM positions by annual rates of 7% and 2% respectively. Those STEM workers in the U.S. with college degrees at the bachelor’s level and higher overwhelmingly (90%) work in occupations related to or within science and engineering (S&E). Read more here: https://lnkd.in/eubB4Wis

STEM Worker Crisis: Fact or Fiction? Is the STEM worker shortage a myth? Recent #wagedata shows wages for STEM jobs have barely budged despite claims of a labor crisis. That shouldn't be the case if there is a true shortage of skilled workers and businesses were competing for the limited resources. With the latest weak job reports and fewer available positions, it’s worth asking: Is the shortage real, or just a talking point? Could this be an attempt to manipulate public perception? Check the facts and decide for yourself! #JobMarket #STEMJobs https://lnkd.in/gfjrwwgA

According to the Bureau of Labor Statistics, #STEM—that is, Science, Technology, Engineering, and Mathematics— jobs are expected to see demand grow by almost 11% in the United States by 2032. Another interesting stat for would-be STEM professionals? STEM salaries currently top $100,000 annual on average—more than double the average salary for non-STEM. While this is obviously a boon for job seekers, it’s also a worthy #investment for employers, who may be able to actually recoup a large share of the #payroll costs for STEM talent if they staff these roles strategically. We unpack the opportunity that this high demand opens for job seekers, why employers benefit from a robust and effective R&D organization, and how companies can build an R&D team that not only delivers on #innovation, but unlocks new avenues for #funding. https://lnkd.in/eKniQsEe

I was a bit shocked today when I revisited BLS data on STEM occupations. Previous data suggested that STEM jobs will increase at a rate MORE THAN TWICE that of non-STEM occupations over the next decade. That is now MORE THAN FOUR TIMES 😮! In fact, the anticipated employment change for non-STEM occupations dropped from 4.9% to 2.3% (2021-31 vs 2022-32). Most of the fastest-growing occupations are in STEM. All of the highest-paying occupations are in STEM (healthcare). Education and workforce development stakeholders, we must act NOW to ensure our future workforce can and will meet the demand for these STEM careers. (Caveat- BLS does not use the updated NSF definition for STEM jobs which includes the middle-skill STEM workforce and likely skews these numbers slightly.) #stem #stemcareers #highered #k12 #workforcedevelopment https://lnkd.in/enbbPPy3

Does your company have a need for STEM employees? The Department of Labor wants your input. 💻 🖨 🖱 📈 💉 🔬 👩🔬 The Department of Labor is embarking on a pivotal initiative under President Biden’s directives in Executive Order 14110. This move is set to transform the STEM employment landscape in the U.S.  On December 15, 2023, the DOL released a Request for Information (RFI) aimed at revising Schedule A for labor certification. This is particularly significant for foreign workers in #STEM fields, but it also covers other sectors facing #laborshortages . The aim is to maintain a balance between providing U.S. workers with job opportunities and ensuring access to #foreigntalent when domestic labor is insufficient. This initiative is key to improving the efficiency and effectiveness of the lengthy and complicated PERM labor certification program. What is Schedule A? Schedule A is a list under federal regulations that identifies occupations for which there are known shortages of qualified U.S. workers. Inclusion in Schedule A allows certain foreign workers to bypass some of the traditional labor certification steps, expediting their employment in the U.S. The DOL is calling for input from industry experts. They are collecting data, studies, and insights to develop a robust process for updating Schedule A to include critical STEM and non-STEM occupations, shaping key employment policies at a national level. The DOL invites thoughts on potential STEM occupations for Schedule A and the criteria for defining these roles. Insights on labor shortages and considerations for Schedule A updates are highly valued. Deadline for submission is February 20, 2024. This is a unique chance for #STEMcorporations to influence future employment policies. This initiative will play a crucial part in driving innovation and development in the STEM sector. Your expertise can have a lasting impact on STEM employment in the U.S. Engage in this significant national initiative and help shape a forward-thinking employment landscape. #employment #stemopt #stem #stemcareers #stemeducation #stemjobs #departmentoflabor #dol #laborlaw #EMPLOYERS #permanentresidency #greencard #perm

Employers facing STEM worker shortages must understand that their wounds are self-inflicted. They can raise wages, utilize worker-friendly management, re-train obsolete workers rather than lay them off, follow best practices on workplace inclusiveness and eschew destructive business models. #STEM #leadership

Minor jobs America’s next generation of workers has already started punching in. New data from the Labor Department reveals that US teenagers today are increasingly picking up part-time jobs, with 37% of 16-19 year-olds either being employed or seeking employment last year — the highest proportion since 2009. Following more than 4 decades of decline in teen employment, current high-schoolers appear to have shifted cultural norms by seeking out after-school and summer jobs since the pandemic. Despite the employment-to-population ratio for this demographic sinking to a historic low of 20.1% in April 2020, the figure has steadily grown in the intervening months, up to 32.6% at the end of 2023. School of life While the labor force participation rate of 16-19 year-olds had been in steep decline from the turn of the millennium until the early 2010s, Gen Z has of late become a powerhouse in the world of work. By filling entry-level positions in a wealth of new hospitality and retail job vacancies, the teen unemployment rate recently dropped to a 70-year low. Interestingly, Atlanta Fed data cited by the Washington Post also shows that young workers are seeing the most dramatic relative pay rises of any age group in the US: in December, the average wage growth for 16-24 year-olds (9.8%) was more than double the rise for workers aged 55+ (4.2%).

Our new Visualizations post maps STEM Pay Growth from 2019-2023. STEM wages are rising with inflation in tech hubs like Seattle and Austin, and in mid-sized cities, especially in the South, while STEM wages in some Southwest cities have not kept pace with inflation. Non-STEM wages are more stable with the highest increases in the more expensive cities.   Other key takeaways: - The South has a notable share of cities experiencing significant STEM wage increases. This trend not only indicates stronger demand for STEM professionals but also reflects a broader and significant migration trend to the South. - Cities with higher increases in non-STEM occupations tend to be those facing sharp rises in the cost of living. This has led to wages in lower-paying jobs increasing to keep pace with living expenses. - Although median wages are higher in STEM occupations, they exhibit more volatility compared to non-STEM roles. Similar to the common trend that job growth is more consistent for non-STEM occupations. https://lnkd.in/g2uJ73dZ #STEM #Inflation #Workforce #TechHubs #EconomicDevelopment #WageTrends #JobMarket #dataviz #employment #econdev

ECONOMY WATCH: STAFFING Can Americans Without a College Degree Solve the Labor Shortage? Wall Street Journal (02/16/24) Weber, Lauren As employers face a long-term labor shortage, people without a college degree could help expand the labor pool. They comprise almost two-thirds of the U.S. population over age 25, and traditionally have been ineligible for many managerial and technical jobs. A move by some companies—including Medtronic, IBM, Delta, Google, Walmart, and General Motors—to do away with degree mandates has opened the door to more candidates. But the share of jobs that went to those candidates was only 3.5 percentage points greater in the year after the change, according to a new report from Burning Glass Institute and Harvard Business School’s Managing the Future of Work Project. But “All these companies are doing is removing a prohibition,” said Joseph Fuller, a management professor at Harvard Business School and co-author of the report. “So the hiring manager is not saying, ‘Oh, we should now be moving affirmatively to hire someone on a skills basis without relying on credentials.’ They’re saying, ‘If our favorite candidate has no [bachelor of arts], we’re no longer prohibited from hiring them.'” Time and demographics don’t favor employers: Baby Boomers are aging out of the workforce, U.S. birthrates are low, changing immigration policies make it hard to count on reinforcements from overseas, and college enrollment is declining.