Good on Paper
The Coming Labor Shortage Is Not Good News
Jul 2, 2024
Economist warns that the coming labor shortage may not be good news. Discussion on benefits and concerns of a tightening labor market. Exploring full employment, aging population impacts, historical parallels, and economic consequences of labor shortages.
42:59
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Quick takeaways
- Aging workforce led to worker empowerment during tight labor market, with employees demanding better wages and conditions.
- Long-term concerns arise about aging population's impact on labor shortage, productivity, and economic health.
Deep dives
Impact of Aging Population on Workforce and Economy
As the aging population in the US grows, questions arise regarding the impact on the workforce. A tight labor market, experienced during the pandemic, led to higher wages and better working conditions for employees. However, concerns emerge about the long-term effect of an aging workforce on labor dynamics and productivity.
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