57.1% increase in engineering grads

Boom typically leads to Bust. This has been the repeated pattern over the decades in STEM. Proclamations of shortages lead to gluts as not even a superficial understanding of Supply and Demand is revealed.

The EPI reported only 4.4% of jobs are STEM jobs (using a wide definition) and only 2.5% of the high school graduate pool gets a STEM job within a year of graduating from from 4-year college. Many of those jobs are outside the field they studied. No mention of whether those STEM jobs were well paying or were going to exist in 5 years domestically.

A 57.1% increase in engineering grads. What is the growth in engineering jobs? A recipe for under-employment and declining entry level engineering salaries. Sure, the grads of Stanford and MIT will do OK. The top 10% will do OK. The top 1% will do very well. The average and below graduates?

 

• * For every two students that U.S. colleges graduate with STEM degrees, only one is hired into a STEM job.

  * In computer and information science and in engineering, U.S.

  colleges graduate 50 percent more students than are hired into those

  fields each year; of the computer science graduates not entering the IT

  workforce, 32 percent say it is because IT jobs are unavailable, and 53

  percent say they found better job opportunities outside of IT

  occupations. These responses suggest that the supply of graduates is

  substantially larger than the demand for them in industry.

   

  http://www.epi.org/publication...

   

  However, a new analysis finds that in 2011, the number of

  college-educated guestworkers under the age of 30 in IT was equal to two-thirds of all the 166,000 new college-educated IT job holders under the age of 30.

   

  http://www.epi.org/publication...

  The EPI refers the visa workers as "guestworkers."

3/7/13 IHE