The ultra tight labor market is often treated as a pandemic-driven anomaly. But there’s a solid case to be made that it’s really the result of demographic trends that existed before and were accelerated with COVID19.
From a business leaders’ perspective, for the CEO who is setting a plan spanning the next 3 or 5 years, or for the CFO responsible for the growth budget, technology & digital transformation will become an ever increasing factor in the equation for growth.
“The US working-age population shrank in 2018 for the first time since at least 1960, as baby boomer retirements picked up and fewer young people entered the labor force” - Bloomberg
Bloomberg - America’s $52 Billion Plan to Make Chips at Home Faces a Labor Shortage