STEM labor market
STEM labor market
Microeconomics studies the decisions of individuals and firms in allocating resources for production, exchange, and consumption. It, therefore, deals with prices, shows in a single market, and the interaction between different needs. Microeconomics aims to understand in what way the action of consumers and producers affect prices and output. Microeconomics is mainly based on supply and demand, profit maximization, and opportunity cost. In the labor market, outcomes are generally favorable for workers in the STEM occupation compared to those in the non-STEM occupation. The STEM occupation is occupied by computer workers, mathematicians, statisticians, and scientists. Women constitute less percentage, about 28%of the workforce of the workforce in STEM, with men outnumbering them in most of the STEM systems (Banerjee,2018). The Australian government makes additional funding of $6.7 million toward advancing women in STEM occupations.
The following dataset indicates differences in program choice in STEM, which long defines outcomes of national innovation strategies. There has been a variation in the number of women occupying the STEM, which is significantly indicated by the number of graduates in the field. The graph below indicates the difference in the way graduate students partaking STEM-related courses in the universities. There has been an increased demand for STEM careers during the covid 19 pandemic; as indicated in the graph below, there was an increased demand in the childcare sector. The requirement for specific qualifications indicated that the qualification rates were low. Cleary shows that the number of graduate women is less than men, which is plentiful compared to women in the stem system. There need to be several strategies to develop a solution to help women occupy a presentable position in the STEM career field.
The Australian program aims to elevate women in the STEM sector, which works based on awarding scholarships to over 500 undergraduates and graduates .to women in the System sector. This aims to address gender inequities in STEM by fostering more women-led industries. This would help propel women to get into senior leadership. ATSE works in corporation with the Australian government to upskill women with STEM qualifications so that they can lead a dynamic and more impactful Australian STEM system. The system helps attract and even retain girls and women in the STEM education career. The elevation works through mentoring and networking as well as leadership to increase women’s influence and interest in STEM (Timms,2018). STEM jobs will nurture a collaborative and innovative economy, strengthening the education systems in that Australian universities and industries are bound. The main goal was to create an expansive network of influential which cultivates the future careers of women.
The increased demand for women to offer a collaborative career industry has considerably with their need to have an impact in STEM careers. This is fuelled by how Australia works toward achieving extensive experience empowering women and gender equality in STEM. This would help shape the Australian STEM career in that it shall provide an innovative career environment (Banerjee,2018). in another way; this will help narrow the gender pay gap and enhance women’s economic security. Diversity is embraced, and a talented workforce is hence preventing biasness. Collaborative production and lending services are well-engineered. The Australian government should therefore continue fostering their support for women in ensuring a balance STEM career field that is competent.
Timms, M. J., Moyle, K., Weldon, P. R., & Mitchell, P. (2018). Challenges in STEM learning in Australian schools: Literature and policy review.
Banerjee, M., Schenke, K., Lam, A., & Eccles, J. S. (2018). The roles of teachers, classroom experiences, and finding balance: A qualitative perspective on the experiences and expectations of females within STEM and non-STEM careers. International Journal of Gender, Science and Technology, 10(2), 287–307.