workforce

The workforce is growing older, and that’s very likely a good thing for U.S. productivity. Various statistics reveal the active workforce over 65 is more likely to have higher education levels than historically, working at a 0.75 full-time equivalent rate on average, and is working for lower wages on average than younger workers.

Artificial intelligence (AI) is already well integrated into the American workforce; in 2022, 19% of American workers were in jobs identified as most exposed to AI, compared to 23% in the least exposed jobs, according to a study by Pew Research. Jobs identified as most exposed are those in which the most critical responsibilities can either be replaced or assisted by AI. In contrast, the least exposed jobs cannot currently be replaced or assisted. A recent study identified U.S. cities at risk of losing jobs to AI, finding more than 10 million jobs at-risk within those cities.

Last week (Jan. 3), Maryland’s state comptroller released the state’s first State of the Economy report. The 110-page document uses publicly available data, academic research, and government studies to analyze relevant economic indicators within the state. It compares that data across neighboring states and nationally to better understand the current economic climate and to help Maryland policymakers understand the sources of weakness, as well as identify the strengths and opportunities available, and to leverage those resources for more sustained, long-term economic growth.

Jobs held by degree holders in Science and Engineering (S&E) fields make important contributions to our nation’s economic growth and global competitiveness, fueling innovative capacity through research, development, and other technologically advanced work activities, according to the National Science Foundation (NSF). This edition of Useful Stats will explore NSF National Center for Science and Engineering Statistics (NCSES) and National Science Board (NSB) education data, specifically data on S&E associate and bachelor’s degrees, and the S&E workforce supplied by the educational systems.

The challenge of attracting and retaining skilled manufacturing talent consistently ranks as a top concern in the industry. Recent findings from the National Association of Manufacturers (NAM) show that more than 70% of industry leaders cite workforce issues as their primary challenge for the past year, outpacing supply chain disruptions and rising raw material costs. To better understand this challenge, the Manufacturing Institute has released a new report exploring how location influences manufacturing companies’ talent development efforts. The study surveyed over 100 manufacturing firms, asking about strategies for attracting and recruiting new workers in rural versus urban settings to identify key workforce challenges for rural and urban manufacturing firms and to uncover solutions they have implemented to address their immediate and long-term workforce needs. 

The semiconductor industry's workforce is expected to grow from approximately 345,000 jobs today to about 460,000 by the decade's end, and of these new jobs, roughly 67,000 are at risk of being unfilled, according to a report from the Semiconductor Industry Association and Oxford Economics (SIA-OE report).

As the U.S. does not have a “skilled worker” visa like many other countries, the H-1B program is one of the only accessible ways for domestic employers to hire foreign, nonimmigrant labor in specialty occupations. The current statutory limit on new H-1B visas is 65,000 per fiscal year, with an additional 20,000 available for foreign individuals who have graduated with a master’s or doctoral degree from an institution of higher education within the U.S. This limit has led to a much higher demand than can be supplied, leaving some industries with less H-1B workers than they may have hoped.

The Department of Defense recently awarded six Defense Manufacturing Community Support Program (DMCSP) grants totaling approximately $30 million from the Office of Local Defense Community Cooperation (OLDCC). The DMCSP invests long-term in critical skills, facilities, workforce development, research and development, and small business support to strengthen the national security innovation base.

The White House has released a new report, Building the bioworkforce of the future: Expanding equitable pathways into biotechnology and biomanufacturing jobs. The five core recommendations in the report are intended to help propel continued investment in the bioeconomy and maintain the U.S.’ leadership in this sector. The report follows an Executive Order President Biden signed in September 2022.

If a recent forecast from McKinsey & Company is correct, climate change isn’t the only rough ride ahead over the next decade for regional and national economies.