[bordergal]

Hey wait, I thought we weren't turning out ENOUGH science and tech graduates?

[tamu]

The numbers are hard to understand because they're not often broken down by domestic/international status of the student, but here are the rough numbers:
Each year in the US, there are about 1000 new math PhDs, 1000 new physics PhDs, and about 3000 engineering PhDs (all fields).

Again, round figures, and there's no telling how many go back to Peking or Buenos Aires or who knows where. The point is that demand in academia (including low paying post docs, etc) is about 1/10th of the above numbers. Given that 1/2 or more might go home, you still have a huge glut of geeks out there that the finance industry slowly absorbs.

Folks in other less marketable fields are in much worse shape. So there may be a problem with undergrad degree numbers, but the technical fields are bulging at the top end.