There Is In Fact A Tech-Talent Shortage And There Always Will Be

For America to maintain its fragile role as the most innovative nation on earth, it must perpetually attract the world’s best and brightest. There will always be trailblazing engineers who stay in their home country, leaving the United States one notch below its potential. Yet, on the heels of comprehensive immigration reform, a new viral economic study claiming that there is no tech talent shortage has skewed the national discussion over why we need to aggressively attract high-skilled immigrants in the first place. An Economic Policy Institute study claims that there is a surplus of American engineers, and, as a result, has garnered national headlines in The Washington Post, The Wall Street Journal and The Atlantic for busting “The Myth of America’s Tech-Talent Shortage”. It has fueled protectionist critics who rail against the high-skilled visa system for a being a low-paying indentured servitude scheme to trap vulnerable foreigners into low-paying, exploitative companies. While the study highlights important misconceptions about our less-than-pretty immigration system, let’s not forget that many major tech firms, from Google to Tesla, were founded by immigrants. Yet, as more and more household-names are produced abroad, from Skype to Spotify, it’s becoming clear that America is losing its grip as the sole source of pathbreaking innovation. There will always be a shortage to the extent that America has?international?competition Below, I explain the Economic Policy Institute’s argument, its methodological shortcomings, and why there will always be a shortage of great workers. What Critics Claim The Economic Policy Institute argues that two important figures prove there is no tech talent shortage: There is a surplus of American graduates with Science, Technology, Engineering and Math (STEM) degrees Wages for STEM careers are stagnant; if there was a dearth of applicants, wages would rise to attract more workers Both of these claims are true. Roughly half of STEM graduates never take a job in the field, and 52% of of those who ditch a technology career do so for reasons related to pay, promotion, and working conditions. “For STEM graduates, the supply exceeds the number hired each year by nearly two to one,” write the authors. Perhaps more importantly, since the early 2000s, wages for programmers have virtually stalled. Yet, we know when there is demand for programmers in the tech industry, wages rise. Indeed, just prior to the Internet bubble, wages sky rocketed. Moreover, in one at least career with significant

Source: http://feedproxy.google.com/~r/Techcrunch/~3/9G1-Z6Lz6Rg/

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