It is August 2023 and long gone now is the talk of “nobody wants to work anymore” because of free stimulus checks, PPP loans, or other government hand outs we heard so much in 2021 and 2022. What we continue to see and hear are labor shortages everywhere even in remote places like Alaska.
From ADN:
The lack ofconstruction workers, skilled laborers and even architects and engineersis a problem across the economy, including nationally. But it’s raising unique concerns in Alaska’s construction industry.
Billions of dollars in federal projects have begun flooding into the state from the $1.2 trillion infrastructure measure and other bills, observers say. Major oil field investments, such as ConocoPhillips’ Willow prospect, could bring billions more in investments to the state.
ADN.com
But the pain doesn’t stop in Alaska. Newsweek has a great article on the 13 states where the shortage is most severe and those states include: Alabama, Arkansas, Maine, Maryland, Massachusetts, Montana, Nebraska, New Hampshire, North Dakota, Oklahoma, South Dakota, Utah and Vermont.
But almost every state has labor shortages and if you want to know what a large part of the cause It’s the Boomers Stupid!
So will there be a solution to this mess? We came across an article on Japan when the solution there seems to be to hire 70 year old workers.
In Japan, an aging population has created a massive labor crunch in the country. Japan Inc., though, has found a solution in the problem itself: Hire older workers.
Last year, four in 10 companies hired people aged 70 or more, Nikkei reported, citing the Ministry of Health, Labor and Welfare.
QZ.Com
Will hiring 70+ year old people in the U.S. work? We’re skeptical given the vast majority of health issues prevalent in American society in contrast to the healthier population in Japan but we’ll only need to wait a few more year to find out as ALL baby boomers hit 65 in 2030 and only grow older from there.
Stay tuned, stay profitable and stay solvent…