U.S. Will Be Short 67,000 Chip Workers By 2030

The US semiconductor industry faces a shortfall of roughly 67,000 workers by 2030, according to an industry association study published, Max A. Cheney reported for Reuters.

Photo Insert: The shortage of skilled chip workers is part of a larger shortfall of science, technology, engineering, and math graduates in the US.

The chip industry's workforce is projected to grow to 460,000 by the end of the decade from 345,000 this year.

At the current rate people are graduating from schools, the US will not produce qualified workers to fill the demand, a study prepared by the Semiconductor Industry Association (SIA) and Oxford Economics claimed.

The shortage of skilled chip workers is part of a larger shortfall of science, technology, engineering, and math graduates in the US, according to the report. By the end of 2023, 1.4 million positions may go unfulfilled.

The study comes as the US works to strengthen its domestic chip sector. The CHIPS Act, which sets aside money for new manufacturing sites, and research and development, was signed into law on Aug. 9.

The Commerce Department is overseeing the $39 billion in manufacturing subsidies stipulated under the act, and companies such as Intel Corp, Taiwan Semiconductor Manufacturing Co. (TSMC), and Samsung Electronics have said they will apply for them.

The law also created a 25% investment tax credit for building new chip factories, or fabs, that is worth $24 billion.

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