1/ It is worth understanding why the US has persistent skill shortages, even during periods of high unemployment: the US economy is structurally distorted so badly due to years of bad policy that most talent goes to "token distribution jobs" which distribute claims on imports.
https://twitter.com/d_jaishankar/status/1582368413883961345
2/ For a talented young person in the US, jobs in finance, law, marketing and real estate brokerage pay much bigger wages (tokens!) than being semiconductor engineers/technicians.
Anyway all the chips can be imported from foreigners willing to take treasuries and dollar claims.
Anyway all the chips can be imported from foreigners willing to take treasuries and dollar claims.
3/ Corporate America, due to the Gospel of Finance, has not invested in training and skill development for a couple of generations at least now; as skilled people retire, there is no pipeline of talent.
The "solution" is to import talent, then import again a generation later.
The "solution" is to import talent, then import again a generation later.
4/ Finally I want to point out that much of the software jobs boom the US saw in the last decade has been due to jobs in online advertising along with a VC-funded Saas boom & recently crypto.
A lot of these have been high paying token distribution jobs that promote more imports.
A lot of these have been high paying token distribution jobs that promote more imports.
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