Author(s)
Source
Compete America, May 2013
Summary
The talent of skilled workers in science, technology, engineering, and math (STEM) fields drives economic growth. A large proportion of researchers, entrepreneurs, and workers in STEM sectors are immigrants. Even in a recession, there is strong demand for STEM workers.
Policy Relevance
Attracting immigrants with STEM skills is vital to the United States’ growth.
Main Points
- In the 20th century, more than 80% of the rise in output per person can be attributed to innovation and technological progress.
- In 2012, the World Economic Forum ranked the United States seventh in “Global Competitiveness,” down from second in 2004; the United States ranked seventh in “Innovation;” between 2009 and 2012, the United States fell from first in the Global Innovation Index to tenth.
- As of 2013, U.S. students ranked 15th in reading, 23rd in science, and 31st in mathematics among 65 countries; students born in the United States cannot meet the need for STEM skills.
- Only 12% of U.S. residents are immigrants, but about one third to one half of university faculty at top-ranked computer science and engineering programs are immigrants.
- Since 1994, one quarter of high-tech firms founded in the U.S. have at least one foreign-born founder.
- For the past 30 years, STEM workers have earned about 25% more than similar non-STEM workers; the earnings of U.S.-born STEM workers are about the same as those of foreign-born STEM workers, regardless of age, gender, education, and specialty.
- Since 2000, the real wages for almost all U.S. occupations have fallen, while real wages of STEM workers have grown.
- From 2009 to 2012, the unemployment rate for STEM workers fell from 4.5% to 2.5%; for computer workers, the rate declined from 5.4% to 2.5%.