Job Market Monitor
Labor shortage
Labor Shortage in US – To Fix it, solve the care crisis
Ongoing labor and talent shortages threaten US economic leadership and future growth. Even as the country approaches a return to prepandemic levels of employment and workforce participation, it faces historic job vacancies: there are 5 million more open jobs than people in the workforce. To address this shortage, US policymakers and employers must act decisively … Continue reading
An economy-wide labor shortage in US ?
Monthly job-growth over the past 3 months has averaged 540,000, a pace that would see the economy hit pre-covid measures of labor market health by the end of 2022. While recovery can’t come soon enough for U.S. workers, if we do hit this target of pre-COVID labor market health by the end of 2022 it … Continue reading
Restaurants in US – The shortage of able kitchen hands
Good cooks are getting harder to come by. Not the head kitchen honchos, depicted in Food Network reality shows, who fine-tune menus and orchestrate the dinner rush, but the men and women who are fresh out of culinary school and eager. The shortage of able kitchen hands is affecting chefs in Chicago, where restaurateurs said … Continue reading
Forest sector in Canada – Shortage of skilled workers union says
A shortage of skilled tradespeople could put a damper on the upswing in the forest sector, according to Unifor. The union says steady jobs, with pay up to $42 per hour at some northwestern Ontario mills, are hard to fill because there are few qualified candidates. Unifor national representative Stephen Boon says despite lucrative salaries, mills in … Continue reading
Tech Worker in US – There is a shortage at the price big tech companies want to pay
You may have noticed that the big tech companies are agitating for an expansion of the H1B visa system whereby foreigners with certain tech skills can come and work in the US. You know, for big tech companies and the like. Easy issuance of green cards for those with those tech skills. It’s not an … Continue reading
The Skills gap in US – The available evidence does not support the idea that there are serious skill gaps or skill shortages writes Wharton School’s prof
Overall, the available evidence does not support the idea that there are serious skill gaps or skill shortages in the US labour force. The prevailing situation in the US labour market, as in most developed economies, continues to be skill mismatches where the average worker and job candidate has more education than their current job … Continue reading
US – Evidence demonstrating a skills shortage is not found in wage data
To an economist, the most accessible and persuasive evidence demonstrating a skills shortage should be found in wage data. If employers urgently need workers with skills in short supply, we expect them to offer higher pay to prospective new employees who possess the skills. When workers with crucial skills are offered better wages by expanding … Continue reading
Coding in EU – Skills shortage of 900,000 coders by 2020
The European Commission (EC) has warned that we face a shortage of 900,000 coders by 2020. The number of computer science graduates is not keeping pace with demand for coding skills, the EC warned this week, as it tries to encourage young people to take up coding over summer. It also said that the number … Continue reading
China – Unemployment and labour shortage co-exist
Why do labour shortage and high unemployment co-exist in China? I analysed this in my book. More specifically, I explored the matching efficiency in the labour market by estimating the matching function between job offers and job seekers in urban labour markets in China based on search and matching theory. Figure 3 shows the values … Continue reading
The Global Workforce Crisis: crippling labor shortages and chronic labor surpluses
Demographic risk is one of the most insidious of all megatrends threatening the global economy, but its impact throughout the world is neither simultaneous nor uniform. For our research [The Boston Consulting Group], we performed simulations on 25 major economies to quantify the extent of labor shortages and surpluses for 2020 and 2030. Overall, by … Continue reading
Skills Gap in US Manufacturing – 75 percent of manufacturers surveyed report a moderate to severe shortage of skilled resources
A new Accenture manufacturing and skills study, completed in collaboration with The Manufacturing Institute, looks at the skills shortage in the US manufacturing industry and what actions manufacturing companies can take to address this impediment to growth. Our study includes survey responses from more than 300 executives from a diverse range of US manufacturing companies. … Continue reading
Skills Gap in Colorado / Shortage could raise construction costs
The main reasons for the workforce decrease was the lack of demand for laborers during the economy’s downturn in 2009 Continue reading
Labor Shortages in Canada / A reason why you’re often behind schedule and over budget
Energy companies trying to raise almost $50 billion for Canada’s first network of natural gas export terminals will face an even more basic challenge: finding the workers to build them Continue reading
Canada / No shortage of workers, invest in training say studies
Two major recent studies provide excellent overviews of recent developments in the Canadian job market, and an informed framework for thinking about our future skills needs writes The Globe and Mail Continue reading
Canada / No ‘hard underlying facts supporting’ labour shortages says TD
“From an economy-wide perspective, it is hard to make the case that widespread labour shortages currently exist” says TD Continue reading
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