Labor shortage in the technology industry

In recent years, skilled labor shortage has increased substantially in the technology sector. This is mainly due to the fact that there are not enough qualified workers to fill vacancies and the number of graduate students in technology fields is also not enough to fill jobs available in this industry.

In fact, according to a recent Daxx report, jobs related to the technology sector are among the “top 10 hardest roles to fill” in the US. It is important to remember that globalization has brought a gigantic technological advance and, therefore, most companies, regardless of what services they offer, need a department or area specialized in digitization and technology.

Apart from that, the global Coronavirus pandemic forced American or US-based companies to adopt digital methods and reinvent themselves to protect the health of their employees, improve services through technological platforms, gradually overcome the downturn in revenue and boost the local economy in times of crisis.

Hence, labor shortage in the technology industry is a growing problem. In fact, Korn Ferry recently conducted an extensive research on the future of work, which reveals that by 2030, the US will have to face a shortage of more than 6 million workers in multiple sectors.

Speaking specifically about the technology industry, the research concludes that “the United States is the undisputed leader in tech, but the talent shortage could erode that lead fast. In tech alone, the US could lose out on $162 billion worth of revenues annually unless it finds more high-tech workers.”

How could immigration help the technology sector?

During the last decades, immigration has played an essential role in the STEM (Science, Technology, Engineering and Mathematics) fields. In one of our most recent articles, we talk about the opinion of several companies related to STEM fields, which state that highly qualified foreign workers and international students are essential to the US economy and technological progress.

Apart from that, according to a recent Inside Sources report, the best way to reduce skilled labor shortage in the technology sector is by reforming the immigration system and expanding alternatives available for international students to work in the US after completing their studies in technology fields.

According to the report, what the country is currently doing is counterproductive as it allows foreigners to complete their studies and then forces them to leave, allowing other countries with more welcoming immigration policies to attract them.

Therefore, “The best way to ensure the tech sector can continue to recruit enough workers to fill vacant positions is for the federal government to reform immigration policies that prevent international students from working after they graduate.”

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