Apparently the WSJ authors were unaware of the work of the Rutgers group which is studying this very (alleged) trend, namely, not enough STEM grads to feed the (again alleged) STEM career pipelines:
http://www.edweek.org/ew/articles/2009/10/28/10engineer.h29.html?tkn=ZQ[FHhMHPmR0MnDTN3v8WfWt%2FKowJkPYxxn2
Quoting directly:
"“This may indicate that the top high school graduates are no longer interested in STEM,” the authors write, “but it might also indicate that a future in a STEM job is not attractive for some reason.”
What factors could be turning qualified students away from science and math fields? While the authors say their data cannot answer that question definitively, they speculate that top-tier students may regard non-STEM careers—in health care, business, and the law—as higher-paying, more prestigious, or more stable. “There are numerous accounts of financial firms hiring top-performing STEM graduates at much higher salaries than those offered by STEM employers,” they speculate."
Having no data myself, but also having struggled (and failed) to get into the career field of MY choice, I, like many STEM graduate degree holders, have been aware of the more likely scenario: 1) we have plenty of STEM capable graduates--what we have a shortage of well paying STEM career fields, and 2) "chicken little" cries for "more STEM graduates" always come from groups which have much to gain from an oversupply of STEM graduates, and also much to gain from a shortage, if they convince the feds to dramatically increase immigration quotas, with the goal of reducing labor costs in the various STEM career fields resulting from both states, glut and shortage.