Apparently there are millions and millions of STEM degrees not being used. Maybe they don’t pay enough because there are too many of them?
No, the pay is only part of it; the reason is that it is easier to manipulate the H1Bs and the H1B program to get a cut-rate deal.
If all of the H1Bs went away today there are enough qualified STEM grads and students in the pipeline to fill the needs. The H1B program has been an ongoing fraud by companies since the run up to Y2K.
There are not too many STEM degrees out there; and the excuse/lie being pushed is that there are not enough.