Riassunto analitico
The purpose of this study was to outline the importance of STEM skills in terms of innovation in the first place. They are often cited as a driver for it, and, most importantly, as the only remedy to avoid Keynes’ scenario of technological unemployment. Indeed, unlike the past, the ongoing technological revolution affects high-skilled workforce as well, therefore, the destruction effect may possibly undermine the employability of some graduates. After a precise analysis of what must be included within the “STEM” acronym, both on demand and on the supply side, an extensive use of datasets at European and national level was carried out. As for the Italian-level analysis, the warnings were confirmed. The study restricted to one single country allowed for more accuracy in giving trends and mismatches. On the supply side, the precise annual quantity of STEM graduates, divided by discipline, who decide to enter the workforce was possible to be computed. In the aggregate, comparing the calculated supply with the forecast demand, it resulted in an annual shortage between 3 and 8 thousand STEM graduates to be required to meet the demand, according to A scenario (based on Italian output growth projections made by IMF) and B scenario (based on the more optimistic estimates agreed between the Italian government and the European Commission), respectively.
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Abstract
The purpose of this study was to outline the importance of STEM skills in terms of innovation in the first place. They are often cited as a driver for it, and, most importantly, as the only remedy to avoid Keynes’ scenario of technological unemployment. Indeed, unlike the past, the ongoing technological revolution affects high-skilled workforce as well, therefore, the destruction effect may possibly undermine the employability of some graduates. After a precise analysis of what must be included within the “STEM” acronym, both on demand and on the supply side, an extensive use of datasets at European and national level was carried out. As for the Italian-level analysis, the warnings were confirmed. The study restricted to one single country allowed for more accuracy in giving trends and mismatches. On the supply side, the precise annual quantity of STEM graduates, divided by discipline, who decide to enter the workforce was possible to be computed. In the aggregate, comparing the calculated supply with the forecast demand, it resulted in an annual shortage between 3 and 8 thousand STEM graduates to be required to meet the demand, according to A scenario (based on Italian output growth projections made by IMF) and B scenario (based on the more optimistic estimates agreed between the Italian government and the European Commission), respectively.
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