The HR Digest had two interesting articles on labor shortages. The first is an article on a report from Lightcast which projects a deficiency of 6 million workers by 2032.
The looming U.S. labor shortage is expected to affect both public and private entities and create a deficit of 6 million workers by 2032. Such a large deficit will cause organizations across industries to suffer significant losses with no way to fill in the gaps in their workforce and productivity.
The second article highlights how employers are frustrated with the current crop of Gen Z graduates and their work ethic.
According to a survey by Intelligent, 75% of companies reported that some or all of the recent college graduates they had hired this year were unsatisfactory. Companies are quickly firing these Gen Z workers because they feel these employees are “unprepared for the workforce, can’t handle the workload, and are unprofessional.”
So where does this leave American society you might ask?
An article from Michigan NPR highlights the growing problem with waster and wastewater labor as retirements take a toll on available workers.
“We’re seeing between 30 and 50% of our water workforce being eligible to retire within the next 5 to 10 years,” said Bruno Pigott, the EPA’s acting assistant administrator of water.
We started this blog to highlight the coming crisis around 2030 with 80 million or more baby boomers taking the retirement stroll and leaving the labor force forever. The young and upcoming Gen Z has entirely different work ethic and attitudes that seem incompatible with the way things have been done for such a long time.
Where will this all lead over the next 5 to 10 years? We think it will lead to high concentrations of labor pools in certain areas of the country. We also think other areas will become desolate and abandoned creating big winners and losers across the country.
Stay tuned, stay profitable, and stay solvent…