The rapid expansion of the U.S. semiconductor industry could potentially be stifled by a looming talent crisis. A new McKinsey study found there could be a potential shortage of between 59,000 and 146,000 workers—technicians and engineers—in the domestic semiconductor sector by 2029. Semiconductors, also known as chips and integrated circuits, power everything from smartphones, computers, microwaves and cars all the way to military weapons and A.I. applications.

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The labor shortage could make it harder for suppliers to keep up with the growing demand for chips, especially as A.I. continues to boom. The U.S. CHIPS and Science Act provides nearly $53 billion to spur the development of the chip sector on American soil. Since President Biden signed the bill in August 2022, major chip manufacturers like TSMC, Intel, and Samsung (SSNLF) have received billions in federal investments to build new factories and expand their operations across the U.S.—funds slated to create over 115,000 manufacturing and construction jobs.........

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