As an employer of "STEM" individuals, I would disagree on the surplus. Now, the area is fairly specialized as an environmental testing lab, and I wonder if that is part of the issue. For our entry level positions, I expect to need to do considerable training, but if I need an individual with prior experience, it is highly rare for me to receive resumes from more than 1 - 2 individuals that actually have the experience necessary. As a $4M company with a staff of about 15 chemists (as in small to very small business) we are often looking nationally to fill experienced positions. If I had need for a larger labor pool as most of the discussion is really about, does that drive the need for a international labor pool?
So, the question that strikes me, is it that the field has so many very narrow specialties, that the university fundamentally cannot put together the program? Does a company want to drive labor costs down? I do not believe that question needs to be answered. But my perspective, the larger impact is not having qualified staff than the salary.
Finally, and I suspect I am the minority here (at /.) when STEM is discussed, it needs to be remembered that it extends well beyond the computer, and programming disciplines.