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What’s going on:    Â
A recent study by the Semiconductor Industry Association (SIA) and Oxford Economics has forecasted a significant worker shortfall in the U.S. semiconductor industry. By 2030, the industry will have a deficit of approximately 67,000 workers, with the total workforce projected to grow to 460,000 from around 345,000 currently, according to Reuters. This estimate stems from the insufficient number of qualified graduates the U.S. is producing to meet the expanding demand.
Why it matters:Â Â Â Â
This anticipated worker shortfall coincides with the U.S. efforts to strengthen its domestic chip industry — primarily driven by the recently signed CHIPS Act. The Act supports the construction of new manufacturing sites and fuels research and development initiatives, which experts believe will be the source of thousands of new jobs. However, the predicted worker shortage — mainly affecting computer scientists, engineers, and technicians — might hinder this growth.Â
How it’ll impact the future:Â Â Â Â Â Â
The shortage of skilled workers in chip manufacturing reveals how there is a shortage of college graduates in the science, technology, engineering, and math (STEM) fields in the U.S. The labor market imbalance will likely lead to more focused educational efforts to train and qualify more people for these new roles. It may also increase the widespread adoption of automated technologies like AI tools, and it might also drive the global recruiting of talent to the U.S.
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