I'll avoid direct commentary in this one. First, the buried lede:
> But the principal reason for the looming workforce shortages is much more basic. A protracted decline in birth rates is coinciding with a record wave of retirements, data shows.
Then the contributory factor:
> Among the trends that have been leading to this moment: a mismatch between the careers college graduates are pursuing and the jobs employers are struggling to fill. Far fewer students are majoring in health care fields than are needed to meet demand, for instance.
> “We have pumped so many young people into business and finance” when what’s really in demand are graduates in other fields, Hetrick said. “It’s like a factory producing these workers like widgets, even though society is saying, ‘We really don’t need them.’ And the factory just keeps pumping them out.”
But the principal reason for the looming workforce shortages is much more basic. A protracted decline in birth rates is coinciding with a record wave of retirements, data shows.
Nah, it'll be the largest pay shortage in history.
Ok, sure, it's actually both... but isn't it frustrating how the framing in the news is exclusively from the perspective of employers, graciously deigning to offer jobs to the masses?
Similarly: What's with this shortage of new cars for $5k!?As a consumer, I can't find enough of what I want at a limited price I am willing to offer, and I demand to know how the government is going to solve the pressing national crisis.
The US is simply adapting to a lack of surplus labor at the prices companies want to pay. It’ll be a slow burn over time, employers will eventually make peace with hiring who is available if they need the labor badly enough. A unique point in human history if you’re a scholar.
https://archive.ph/Wse83
I'll avoid direct commentary in this one. First, the buried lede:
> But the principal reason for the looming workforce shortages is much more basic. A protracted decline in birth rates is coinciding with a record wave of retirements, data shows.
Then the contributory factor:
> Among the trends that have been leading to this moment: a mismatch between the careers college graduates are pursuing and the jobs employers are struggling to fill. Far fewer students are majoring in health care fields than are needed to meet demand, for instance.
> “We have pumped so many young people into business and finance” when what’s really in demand are graduates in other fields, Hetrick said. “It’s like a factory producing these workers like widgets, even though society is saying, ‘We really don’t need them.’ And the factory just keeps pumping them out.” But the principal reason for the looming workforce shortages is much more basic. A protracted decline in birth rates is coinciding with a record wave of retirements, data shows.
>Far fewer students are majoring in health care fields than are needed to meet demand
High stress careers might find it tough attract new entrants w/o high pay.
> the largest labor shortage in its history
Nah, it'll be the largest pay shortage in history.
Ok, sure, it's actually both... but isn't it frustrating how the framing in the news is exclusively from the perspective of employers, graciously deigning to offer jobs to the masses?
Similarly: What's with this shortage of new cars for $5k!?As a consumer, I can't find enough of what I want at a limited price I am willing to offer, and I demand to know how the government is going to solve the pressing national crisis.
The US is simply adapting to a lack of surplus labor at the prices companies want to pay. It’ll be a slow burn over time, employers will eventually make peace with hiring who is available if they need the labor badly enough. A unique point in human history if you’re a scholar.