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The final decade has seen appreciable concern concerning a shortage of science, know-how, engineering, and mathematics (STEM) employees to fulfill the demands of the labor market. On the similar time, many consultants have offered proof of a STEM employee surplus. A comprehensive literature evaluation, along with employment statistics, newspaper articles, and our personal interviews with company recruiters, reveals a big heterogeneity in the STEM labor market: the academic sector is generally oversupplied, whereas the government sector and private industry have shortages in particular areas.
UCT is an inclusive and engaged research-intensive African college that conjures up creativity by way of outstanding achievements in studying, discovery and citizenship; enhancing the lives of its college students and staff, advancing a extra equitable and sustainable social order and influencing the worldwide larger training landscape.
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We launched the taxicab queuing model as a metaphor for the STEM labor market. Depending on the STEM job section, we can both have a queue of positions waiting to be crammed (cf. taxis) or a queue of STEM employees waiting for jobs (cf. passengers). The characteristics of the queue depend upon various factors: the rate of job turnover (cf. taxi service price); the STEM worker arrival fee (cf. passenger arrival rate); the number of positions obtainable (cf. the number of taxis in the fleet); the placement of the job; the diploma held by the employee (cf. sort of taxi); and the employee’s citizenship status. The mannequin also highlights the probabilistic nature of the supply-and-demand market: random fluctuations can cause job segments that historically have a scarcity of employees to have a surplus, and vice versa. Although we presently lack the information to operationalize the model, it presents a novel method to characterizing the variation throughout STEM job segments.
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