(NewsUSA)
– Baby Boomers hit peak retirement in 2024, according to the Retirement Income Institute. In the years to come, we will see the remainder of this generation leave the workforce, as more than 4.1 million turn 65 every year between now and 2027. As Baby Boomers retire, new opportunities are emerging for younger generations to step into critical roles.
The number of American jobs in a science, technology, engineering, and mathematics (STEM) field is expected to grow 10.4% between 2023 and 2033, according to The U.S. Bureau of Labor Statistics (BLS). Currently, the country lacks enough skilled workers to fill all those roles – and this gap is likely to persist. The Semiconductor Industry Association projects 1.4 million U.S. STEM jobs will go unfilled – including 67,000 in the semiconductor industry – by 2030.
This is why the U.S. needs to further promote STEM skills at all education levels. Existing evidence shows how urgently these investments are needed. At the moment, only 20% of high school graduates can handle college-level STEM courses, according to the Harvard Graduate School of Education.
STEM Employment Expands Prosperity
Promoting careers in STEM brings new prosperity to under-represented groups.
STEM occupations tend to have higher salaries than the average. In 2023, the median annual wage for all STEM occupations was $101,650, compared to $46,680 for non-STEM jobs, according to BLS.
But it’s important to ensure the benefits of STEM careers are better distributed across the population at large. Between 2011-2021, 65% of those employed in STEM occupations were men and about 35% were women.
Minorities are also underrepresented in STEM fields. African Americans represent 11% of all jobs and 9% of STEM jobs, while Hispanic Americans represent 17% of all jobs and only 8% of STEM jobs, according to PEW Research.
How to Bridge the STEM Skills Gap
The U.S. government understands how critical STEM education is to America’s future and has embarked on several initiatives to promote it. The U.S. National Science Foundation said it would invest $14.5 million as a set of awards to promote STEM education in two-year colleges. And the CHIPS and Science Act of 2022 has provisions supporting STEM education in primary and high school. CubeSat and NASA both have STEM programs focused on satellite science, as well.
Alongside the U.S. government’s initiatives, the private sector also plays an important role. For example, Hughes – a wholly owned subsidiary of EchoStar – recently announced a project with the National 4-H Council designed to inspire students to explore STEM subjects.
Through the partnership, Hughesnet and National 4-H are providing STEM Challenge Kits to local 4-H, Boys & Girls Clubs, and YMCA locations in underserved areas. These kits use three hands-on activities to teach kids ranging from 8 to 14 important STEM concepts and problem-solving skills.
By making STEM education a core part of the American curriculum starting at a young age, the U.S. can recapture the lead in innovative technical fields and more broadly spread prosperity across the population.
