Author and Sr. Labor Economist Ron Hetrick discusses the opportunities for bridging the gap in our labor force.
Emsi Burning Glass’ original report The Demographic Drought: The Approaching Labor Crisis was released in April 2021 and took the world by storm. Featured in nearly every major publication (i.e. Forbes, New York Times, Wall Street Journal), we explored the people shortage that would change our world forever.
One year later, Emsi Burning Glass is continuing the series.
The Demographic Drought: Bridging the Gap in the Labor Force dives into the current state of the U.S. labor force, making predictions for 2022, and suggesting two opportunities for increasing the labor force participation rate.
The report highlights the decreasing labor force participation despite an increase in working-age population, and a record number of job postings [11 million].
Hetrick dives deeper into possible opportunities for bridging the US labor gap. Opportunities include; understanding the role of immigration and strategies that will engage people on the sidelines.
Read the research here: https://www.economicmodeling.com/demo...
Timecodes:
0:00 - Demographic Drought Part 2
1:12 - Pre covid
8:54 - Current Labor Crisis
12:16 - Why are we not recovering faster?
21:50 Will people return to the workforce
27:33 Future Labor workforce
34:50 New Paradigm
