The Cambridge and Peterborough region will experience strong demand for workers with science, technology, engineering and mathematics (STEM) qualifications over the next decade, according to a new study.
A study, carried out by the STEM Foundation in partnership with the Greater Cambridge Greater Peterborough Enterprise Partnership (LEP), found that technology-driven sectors are thriving in the area and that the local workforce will need to grow by a fifth by 2024 to fulfil employer requirements.
Demand will be strongest for highly skilled, technology-literate workers, qualified to at least Higher National Certificate (HNC) level.
The report found:
- More than a quarter (28%) of the 200,000 working population in the area is working in a STEM-related occupation. This is a higher proportion than in England and Wales as a whole
- Future demand for STEM jobs in the GCGP region will be predominately at professional and managerial level – increasing demand for skilled, highly qualified and technology-literate workers
- The technology sector is thriving, accounting for 1 in every 8 jobs in the region
The report’s ten-year forecast for the area predicts employment declining in agriculture, manufacturing and public administration, but growing in all other sectors.
It also found that information technology and the energy and utilities sectors are leading the way in job creation, with a 40% growth in new jobs forecast for over the next decade. Financial and insurance services are also likely to experience high demand for new jobs.
ACER worked in partnership with the STEM Foundation and GCGP LEP to further research the existing and predicted future skills needs of employers, with a view to working with providers to determine how those skills needs can be met. Here is a summary of the research project’s purpose and aims.