The Projected Labor Shortage

Statistical evidence suggests that a worker shortage is a very real threat to the U.S. labor market. Most analysts cite the routine reasons: demographics (the aging baby boomers and slowed population growth), decreases in immigration since the September 11 terrorist attacks, and a slowdown of economic growth and job creation . While these statistics suggest a possible reduction in the labor force, they do not take into consideration other, less tangible factors. The changing landscape with …

…cheaper in the long run to keep these experienced employees than to hire younger, less skilled workers. The labor pool, as well as productivity overall in the United States should continue to grow if highly skilled, experienced workers are recruited and maintained over long periods of time. The number of U.S. workers may decline in sheer numbers, but the ones that remain will be some of the most productive and capable in the world.