"The first signs of declining interest among the young in science and engineering appeared almost two decades ago, after Japan reached first-world living standards, and in recent years there has been a steady decline in the number of science and engineering students. But only now are Japanese companies starting to feel the real pinch.
By one ministry of internal affairs estimate, the digital technology industry here is already short almost half a million engineers."
Read the story - High-Tech Japanese, Running Out of Engineers
Perhaps the declining students interest in math, science and engineering is symptomatic of every developed country. As a country becomes more affluent, students are drawn to careers that appear more lucrative, more exciting and easier to attain than engineering and science careers.
Resources: New York Times 5/17/2008