Saturday, July 26, 2014

S.T.E.M. Storm of Lies

The Official Line of Silicon Valley--that the US does not produce enough Science, Technology, Engineering, and Math graduates--is in conflict with Economics 101. 

You remember Econ 101, don't you?  The supply/demand intersection, where the price rises when supply is short, given constant or increasing demand?

Yah, THAT part.

...Some research suggests that there may be an oversupply of STEM professionals. An Economic Policy Institute study last year found that the supply of STEM graduates exceeds the number hired each year by a ratio of nearly 2-to-1, depending on field of study. In engineering, colleges historically produce about 50% more graduates than are hired into engineering jobs, the study found.....


..."The unemployment in STEM is low now, but wage growth in most STEM occupations has been pretty flat for many years and employment growth has only recently shown any bounce," said Lowell....

Let's put it this way:  the market doesn't lie. But Silicon Valley management--well, it DOES lie. 

No comments: