U.S. employers will soon face “the largest labor shortage the country has ever seen,” according to a report from Lightcast, a labor market data and analysis firm.
The problem will be especially acute in fields like plumbing, HVAC, and auto maintenance. The labor force as a whole is being challenged by Baby Boomers retiring, falling childbirth rates, and a shrinking cohort of working age adults participating in the labor force.
For construction and trades, the problem is worsened by younger generations seeking office-based jobs requiring a college degree, prime working-age men exiting the labor force due to increased substance abuse and incarceration, and women filling less than 2% of jobs in traditionally male-dominated fields.
The only growth in the U.S. labor force since 2019 is due to immigration and foreign-born workers, the report says.
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