If you wonder where we get some of our ideas for our research, a great source is News.Google.Com and the key words: “Labor Shortage.” We check periodically to see what the headlines bring and below is a search we did on September 30, 2023.
The Hill is reporting that the Census is projecting a shortage of 195,000 nurses and 121,000 doctors by the year 2031.
Meanwhile, the U.S. Census Bureau is projecting 2.1 million unfilled manufacturing jobs by 2031 but the pain doesn’t stop there because there is a labor farm shortage in Idaho, desperation for people in Buffalo, New York and the Kansas City Fed reports that food inflation is being driven by labor shortages in the fast food industry.
Tight labor markets can drive up food services prices by significantly raising restaurants’ labor expenses and reducing their capacity to serve customers. According to the U.S. Department of Agriculture’s Economic Research Service, 75 cents out of each dollar spent on food away from home are incurred by food services; the other 25 cents are incurred by food processing, wholesale trade, and other parts of the supply chain. Shortages of workers in restaurants and drinking places can be inflationary, as they rely heavily on labor to produce services.
Source: Kansas City Fed
Sadly, the labor shortage problems we see today are tiny compared to what will happen when all 50+ million baby boomers retire over the next 10 years. We designed our new DIVOSTM investment strategy to capitalize on these growing trends so stay tuned, stay profitable and stay solvent…