The Pennsylvania motto is “Virtue, liberty and independence” but it should be “We need people” because the state is suffering from a shortage of medical professionals. From Weny News:
“The shortage of nurses and physician assistants stems from the retirement of baby boomers. There is a big exodus of baby boomers at this time. Coupled with burnout of healthcare providers,” said Dean of the College of Health Professions, Dr. Leo-Felix Jurado.
Due to the shortage of professionals able to teach the next generation it is becoming exceedingly difficult to admit students to the program. Similar to nurses, Jurado says teachers of this degree are being overworked and underpaid. By the year 2030, it is estimated there will be a shortage of 17, 600 more nurses.
Weny News
There are also teacher shortages in Pennsylvania and the hope is that tax cuts will ameliorate the problem.
At the news conference in Squirrel Hill, Shapiro said he wants to address the shortage by providing teachers with annual tax credits of $2,500 for the first three years after they receive their certificates.
“The pipeline is shrinking. That has to change,” Shapiro said. “These investments are critically important.”
Trib Live
Keep in mind that we are at the beginning of a baby boomer mass retirement wave, the BLS projects that by 2030 there will be a 93 percent increase in people over the age of 75 working!
The BLS has very optimistic projections if it thinks that many baby boomers are going to continue working at age 75 but it won’t matter, there simply won’t be enough people to fill the gap. There are negative numbers in the projections for various age groups: 16 to 19; 20 to 24; 25 to 34 and 55 to 64.
With low labor force participation there will be higher costs for the gathering, production, and distribution of goods and services. We don’t think inflation is going away anytime soon so stay tuned, stay profitable and stay solvent…