For every two students that U.S. colleges graduate with STEM degrees, only one is hired in a STEM job.
[...snip...]
Finally, What IT Wages Tell Us. Returning to the wage-levels point raised by the three EPI authors, I get a kick out of lobbyists and industrialists who urge that business be allowed to run free of needless regulation and government interference, and yet urge direct governmental intervention in the labor market by permitting the massive infusion of inexpensive and young foreign workers.
Are these guys capitalists or socialists? The answer is that they take one route or the other depending on how it will serve the specific industry in question at the specific moment in time.
Right now they are all for substantial government intervention in the labor market by permitting the admission of many more foreign workers.
And how do such admissions square with the most fundamental rule of capitalism — that the markets regulate prices and wages? Bear in mind that those seeking more alien workers to keep wages in check are the same people who would scream to high heaven if the government sought to control prices.