Future Skill Shortages In The U.S. Economy?
The impending retirement of the baby boom cohort represents the first time in the history of the United States that such a large and well-educated group of workers will exit the labor force. This could imply skill shortages in the U.S. economy. The authors develop medium-term labor force projections of the educational demands on the workforce and the supply of workers by education to assess the potential for skill imbalances to emerge. Based on the formal projections, they see little likelihood of skill shortages emerging by the end of this decade.