The United States, on the verge of an eternal labor shortage

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Since the pandemic, American companies large and small have struggled to maintain a full workforce. They have been forced to increase salaries and offer extra benefits, while employees were free to seek better offers or join the phenomenon of the big resignation . But now, layoffs are increasing and job offers decreasing . The economy slows as the Federal Reserve raises interest rates at the fastest pace in decades. From any objective point of view, the balance of the labor market should tilt in favor of employers. However, that is not the case. It appears that it remains incredibly difficult to fill positions with qualified staff. In some ways, workers still have the power, and a radical change occurring in the labor market could keep things that way forever. The change comes down to demographics. Since the baby boom that followed World War II, companies have enjoyed an endless supply of workers to draw on.

Do you hate your job? Well, we will replace you with one of the hundreds of workers who would be happy to take your place. The abundance of workers made them cheap and disposable. But now, those baby boomers are retiring, making things difficult for America Cell Phone Number List businesses. "The labor shortage we're facing today is likely to continue, and perhaps get even worse. It's going to continue to be really difficult to attract people and get them into new jobs," he says. Jay Denton, director of analytics at LaborIQ, a company that provides salary analysis to employers. The United States faces an eternal labor shortage. Everything that Generation Z publishes on the internet can be used against them in job interviews, warns former Minister of Economy Varoufakis It may seem like ancient history today, but the baby boom caused a massive change in the American job market.

When the boomers came of age, the job market grew on a massive scale. The working-age population increased by 17% in the 1960s and another 19% in the following decade. They were good times to look for work. But boomers , unlike their parents, haven't had many children. The pill and the legalization of abortion caused fertility rates to plummet: from 3.7 babies per woman in 1960 to 1.8 a decade and a half later. For a few years, the influx of women and immigrants into the workforce maintained the birth statistics. But in 2000, the growing supply of female labor reached its peak. And after Donald Trump came to power, immigration plummeted. Therefore, when the baby boom generation began to retire , the workforce had already suffered . Then, COVID-19 increased the shortage.