Science, Technology, Engineering, and Mathematics (STEM) occupations are critical to our continued economic competitiveness because of their direct ties to innovation, economic growth, and productivity, even though they will only be 5 percent of all jobs in the U.S. economy by 2018.
The disproportionate influence of STEM raises a persistent concern that we are not producing enough STEM workers to compete successfully in the global economy. We find that this concern is warranted—but not for the reasons traditionally claimed.
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The least educated are the most vulnerable in economic downturns. During the current recession, unemployment rose from 7.4% to 13.3% (February ’08 to March ’09) among those with less than a high school diploma. The unemployment rate rose from 4.7% to 9% for those with a high school diploma during the same time period.