The engineering industry is an interesting case because it captures some of the broader trends in a rather stunning way. Perhaps the clearest example of this is the shared struggle for talent between developed and developing countries, with the latter gaining more territory at the expense of the former.
This scenario has led to a decline in high-tech jobs in the United States, as well as in other developed countries, and an increase in such jobs elsewhere – again especially in China and India.
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The outsourcing model has only improved as a result of the recession in the last two or three years (we won't speculate exactly when the crisis started) and since production has gone offshore, engineering is needed to make it manageable. As more and more engineering jobs are sent overseas, engineers will increasingly find that their job prospects abroad are better than at home.
Nevertheless, the engineering industry in developed countries is still doing quite well, seems controversial, and analysts predict that this industry will be one of the main drivers of the various countries to get out of the current crisis.
Some of the most promising areas in the industry are likely to be related to alternative energy development, biotechnology in general, and computer, systems, and internet engineering.
In short, the state of the engineering industry is actually quite good compared to other industries, although some engineering disciplines perform much better than others. Innovation will completely transform engineers and their broader field – a concept as relevant today as it was before.
