New Analysis Finds STEM Jobs Have Significant Impact on the U.S. Economy

Feb 17, 2020

by ASME.org

A new analysis by a consortium of major scientific professional organizations details the economic impact of science and technology jobs in the United States. The study finds that “two out of three U.S. jobs and nearly 70 percent of the nation’s Gross Domestic Product (GDP) can be attributed to scientific, engineering, and math activities,” and that “STEM jobs also generate $2.3 trillion in tax revenues annually.” The report provides a comprehensive review of the STEM workforce and finds that research and development (R&D) done at U.S. universities provide significant opportunities for STEM training. Further, the report concludes that “continued robust federal support for research and science and engineering policies is needed to power the economies of local and regional communities across the U.S.”

The study’s resulting paper is entitled, “STEM and the American Workforce: An Inclusive Analysis of the Jobs, GDP and Output Powered by Science and Engineering.” Excluding the cover page and appendix, the report totals 8 pages and can be found here: https://medium.com/@ScienceIsUS/stem-and-the-american-workforce-f5c36be6874e.

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