There is a strong correlation between the number of job openings and the average salary of an individual, according to a report released on Thursday.
The report from the National Technology and Innovation Policy Centre said a person needs to be at least 15 years old to be considered for a job in an engineering or tech company.
“These statistics show that the demand for skilled engineers is growing and a great deal of talent is being developed across industries,” said Michael J. Stapleton, the chief executive of the centre.
“But there is also a shortage of graduates, and employers will need to keep in mind the challenges of retaining qualified people.”
The report also looked at the proportion of applicants from other countries, which showed a sharp increase in the last two years.
It said the number who applied to the US was at its highest level since the mid-1990s, and that many employers were looking for candidates from abroad.
“The trend of the US being the top destination for global talent has been increasing for a number of years, but the US still remains a difficult place for young engineers to enter,” said Stap, who was an assistant professor of economics at the University of Pennsylvania.
“We can’t expect a global workforce to fill our engineering skills shortages.”
The National Technology Strategy Centre said the US would be a top-five country in terms of number of new job openings in the next five years.
The US ranks first for the number and type of job applications, but it has a relatively low level of international applicants, the centre said.
The centre said the top two countries for job openings were Japan and Australia, but that the top five were South Korea, Canada and the UK.
The data comes from an annual survey of US employers conducted by a network of companies that is known as the Technology Industry Outsourcing Association.
The survey, which was released in March, said there were about 1.8 million engineers and technology professionals working in the US in the year ending March 2017.
That was up from 1.5 million in 2016.
But the report showed that the number working in engineering and technology is expected to rise further in coming years.
About 10 per cent of those working in tech were working for companies with $2.4 trillion in revenues in 2020, the report said.
About 20 per cent were working in technology that generated $2 billion in revenues, the survey said.
That number is expected grow to 25 per cent by 2020.
The jobs that require a degree include engineering, information technology, network, healthcare, consumer and retail.
The number of applications for engineering positions has also increased by nearly 40 per cent in the past five years, according the report.
The unemployment rate for engineering and tech workers was 5.6 per cent for April-June of 2020, according a recent report by the Bureau of Labor Statistics.
The rate was lower for other professions, including healthcare and food service.
The increase in applications is due in part to a shortage in engineers and tech jobs.
“It’s not a matter of whether we have more engineers than we need, it’s more of a matter where we need to fill those gaps,” said Patrick McGovern, a professor of applied economics at Dartmouth College.
“That is a pretty good indication of the job market right now, given the current demand for engineers.”