Tue. Sep 17th, 2024

JetBlue is discontinuing flights from Burlington to New York. The reason? Labor shortages of course!

JetBlue cited the FAA actions in announcing its decision to end its Burlington service, which it has operated for more than 20 years. “We expect the current air traffic controller shortage to last for some time and do not see a path to feasibly bringing back this flight,” the company said in a statement.

source: SevenDayVt.com

Back in June of 2022, we wrote, “Labor Shortages: Air Traffic Controllers” which forecast this issue and with absolutely nothing being done by Congress to help alleviate the Boomer Retirement Crisis, these types of problems will only continue.

Photo by Andre Ouellet on Unsplash

We expect to see increasing shortages of skilled labor such as airline pilots, mechanics, doctors, engineers, nurses, accountants, and more because there is nothing in play to help fix this issue. We currently have 3.8 percent unemployment and we also have at least 1 million people enrolling in social security this year indicating at least 1 million retirements from the labor force. Next year there will bee another million and another million each year until we get to 2030 and 40 to 50 million boomers retire.

Currently, there is no end to this crisis, the U.S. and most of the global skilled labor force is aging rapidly and as people retire it will create massive wage inflation because demand for workers will continue as demand for goods and services continues to increase over time. Remember, just because someone retires, doesn’t mean they stop consuming. The consumption patterns do change but not the overall consumption.

We developed our DIVOSTM investment strategy to invest in companies that know how to do much with very little (labor) because these companies will be in the best position to grow and profit accordingly. Stay tuned, stay profitable and stay solvent…