On the heels of our recent post about labor shortages Desperate Times, Desperate Poaching and Labor Shortages: Semiconductor Engineers & Teachers, we have this news article demonstrating the growing “war” for labor.
Drivers around the Valley are seeing more billboards from the Dallas Independent School District, which is trying to recruit Arizona teachers. The billboard lists their salary range from $60,000 to $102,000. “We have competitive starting salaries of $60,000–not including our incentives that we have: $2,000 signing bonus, if you’re a math or science teacher, you’ll get a $3,000 incentive on top of that $2,000. If you’re bilingual, you’ll get another $5,00 incentive plus a $4,000 stipend,” said Steven Jackson, the director of recruitment at Dallas Independent School District.
AZFamily.com
The real tragedy however is that no one is looking into long term solution for these labor shortage problems. Keep in mind that on any given day, about 10,000 boomers retire from the work force. At the end of this week nearly 50,000 boomers will have retired. At the end of the month that number will be 200,000 and at the end of the year, that will be about 1.2 million people and that’s just for this year. The boomer retirement will continue to happen every year thru 2030 when ALL boomers hit the age of 65 and can enroll in social security and medicare. By 2030, there will be 70 million people on social security and medicare. The US population is projected to be about 340 million in 2030 which means 20% of the population will expect the other 80% to provide goods and services while not contributing much if anything.
There will be MORE labor shortages to come in all fields and all industries. Companies that decide to lay off workers now may be begging people to come back later. In the meantime, stay tuned and stay solvent…
[…] we’ve written about the current and growing shortages of teachers, air traffic controllers, pilots, government workers, and others so it begs the question: what the […]