Missing Piece of the Puzzle:
an Atlanta Journal & Constitution article written
by: Teresa M. McAleavy
who decipher economic trends say the current jobless
recovery will probably be replaced by hefty labor
shortages within the next 10 years. Hard to believe?
soothsayers believe a few economic stars will align to
create actual labor shortages similar to those in the
late 1990’s when many workers demanded, and received,
higher wages and more perks.
centers on a potential mass exodus of baby boomers from
the work force, leaving holes that the younger
generation simply can’t fill. The oldest baby boomers
will be 64 in 2010, and the generation following them is
boomers swelled into schools back in the 1960’s and
swelled into the work force in the 1970’s,” said Ken
Goldstein, an economist with the Conference Board in New
next decade, they’re going to swell into the AARP group,
into retirement, and that’s going to have a big impact
on the work force.”
said every downturn will be followed by an upturn, and
he believes the gross domestic product will grow by an
average of 4% in coming years. By his estimates, growth
of 3.5% will increase the demand for employees as baby
of jobs will be increasing faster than the number of
people in the working-age population,” Goldstein said of
workers ages 16 to 64.
estimates show the number of people 65 and older is
expected to increase 26% between 2005 and 2015, while
the population of 40 to 54 year olds will decrease by
5%. As for 25 to 39 year olds, their ranks will grow by
6% in that 10-year period.