According to a study published on Tuesday by an industry association, the U.S. semiconductor industry is expected to face a deficit of approximately 67,000 workers by 2030. The study, prepared by the Semiconductor Industry Association (SIA) and Oxford Economics, projects that the chip industry’s workforce will grow to 460,000 by the end of the decade, up from around 345,000 this year. However, the current rate of graduates from schools is insufficient to meet the increased demand for qualified workers.
The U.S. government has taken steps to strengthen the domestic chip sector, including signing the CHIPS Act into law on Aug. 9. This legislation allocates funds for new manufacturing sites and research and development. The Commerce Department is overseeing the $39 billion in manufacturing subsidies provided by the act, and companies like Intel Corp (INTC.O), Taiwan Semiconductor Manufacturing Co Ltd (2330.TW), and Samsung Electronics Co Ltd (005930.KS) have expressed their intent to apply for them. Additionally, the law offers a 25% investment tax credit worth $24 billion for building new chip factories (fabs), which are expected to generate job opportunities.
The shortage of skilled chip workers is a component of a broader deficit in science, technology, engineering, and math (STEM) graduates in the U.S. According to the report, it is anticipated that by the end of 2023, approximately 1.4 million positions in these fields may remain unfilled. This scarcity of qualified workers, including computer scientists, engineers, and technicians, poses a significant challenge for the semiconductor industry.SIA President John Neifer stated that this workforce shortage has been a long-standing issue, but the CHIPS Act’s implementation has brought it to the forefront and provided an opportunity to address the problem. The act aims to encourage more chip manufacturing within the U.S. borders, which could help alleviate the acute shortage of skilled workers in the industry.
