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Weiye Loh

Earnings Dynamics, Changing Job Skills, and STEM careers | Microeconomic Insights - 0 views

microeconomicinsights.org/ng-job-skills-and-stem-careers

Skills STEM Obsolescence Labor Economy Lifelong Learning

shared by Weiye Loh on 24 Jul 21 - No Cached
  • Weiye Loh on 24 Jul 21
     
    "The US labor market is particularly dynamic for Science, Technology, Engineering, and Math (STEM) jobs, with new technologies proliferating throughout workplaces every year. This technological change is the engine of long-run productivity growth, but it also means that workers in technology-intensive occupations must constantly learn on the job, or risk becoming obsolete. This paper considers the consequences of technological obsolescence for workers in STEM occupations. We have three main findings. First, we look at how job skills change over time by studying the appearance of new skills and the disappearance of old skills over time. The overall rate of skill turnover is high-comparing vacancies posted by the same firm for the same occupation in 2007 and 2019 we find that about 29% contained at least one new skill requirement in 2019. Occupations vary systematically in the amount of skill turnover, however, with STEM and other technology-intensive occupations changing significantly faster than other jobs."
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