Importance The article deals with the problem of engineering workforce shortage. The issue is important in many developed countries, and it is especially urgent for the Russian economy in view of modernization and innovation development. Objectives The aim is to analyze engineering workforce demand and supply mismatch in the most developed countries and in Russia. Methods The analysis rests on the study of analytical data, OECD countries materials, cross-country comparisons and econometric modeling. Results We review the main reasons for engineering workforce demand and supply mismatch in foreign developed countries and in Russia. The econometric modeling based on statistical data for OECD countries reveals factors affecting the decrease in graduates majoring in Engineering. The study also considers the problems caused by globalization of labor and education markets. Conclusions and Relevance The factorsaffecting the engineering workforce shortage include a decrease in the number of graduates majoring in Engineering, low occupational prestige, problems in coordinating the demand for engineers and specialist training. The econometric analysis shows that indicators of training and supply of engineering workforce have positive correlation with the level of manufacturing industry development, especially of high-technology production, and negative - with the level of inequality. We conclude that the focus of foreign countries on employing foreign specialists threatens the engineering potential of Russia.
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