Recognizing that the era of total U.S. dominance in the global science and engineering (S&E) enterprise is over, a recent report from the National Science Board (NSB) and the National Science Foundation (NSF) on the State of U.S. Science and Engineering 2022 indicates that the U.S. must focus on strengthening international research and development (R&D) collaboration and developing domestic STEM talent to maintain its leadership on the global S&E stage. As in previous years, the report includes a detailed examination of the statistical indicators of S&E activities, but also updates the definitions used for the S&E workforce and includes an analysis of the role of K-12 STEM education in the domestic STEM talent pipeline.