Study Abroad 101: Four stats indicating STEM recruitment in US will remain strong
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Study without desire spoils the memory, and it retains nothing that it takes in: Leonardo da Vinci
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STEM Masters in the US is a popular career path for talented international students seeking a global career. US offers top education world class universities, and work opportunities on OPT and H1B visa.
In the post-COVID 19 new “normal”, there is a growing anxiety among international students regarding the unemployment statistics from the US.
But the more pertinent question is: How is STEM responding to these extrinsic factors? We have analysed this question using data and facts.
Read ahead!
FACT 1: Unemployment in Tech has declined in the past two months
While this data does not cover the full STEM spectrum, it speaks volumes about tech employment - the preferred career path for international STEM grads. In fact, there are currently 600k+ job openings for Tech graduates at the moment as per Forbes.
FACT 2: US has an inherent shortage of STEM professionals
According to a report from Deloitte, STEM industries such as Manufacturing, Tech and other are projected to be short of 2.4 million STEM professionals in the US. This inherent demand is met by ‘importing’ skilled talent who plug the gap and create value for the US and global economy.
FACT 3: STEM industry creates new jobs
We wrote in one of our previous newsletters, STEM creates new jobs and build a thriving economy - something that the world needs to rebound from the COVID enforced pause in our lives.
1 job in STEM directly and indirectly creates 4.3 jobs across all income groups. STEM has the highest job multiplier across all other employment segments.
FACT 4: STEM rebounded quickly after 2009 crisis
The last time the world had an economic crisis (in 2009), STEM rebounded back to pre-crisis employment levels in 2 years and it’s growth zoomed by 40% across the next 4 years. In fact, given how companies are increasingly moving towards remote working, one can expect growth in more tech resources to collaborate virtually.
Conclusion: STEM is Resilient
As discussed above, all the major statistics point towards COVID’s affect on STEM is limited and typically STEM industry rebounds very quickly.
In these exceptional circumstances, it is important to keep these facts in mind while you make your decision about Study Abroad.
For more discussions on STEM recruitment in US post COVID- join our WhatsApp group (here).
Our internet picks for the week
The Atlantic on how COVID-19 is making work from home the new normal.
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