The state of Connecticut has a problem and it’s called labor shortage. From the CT Insider:
Highlighting the need for more personnel, Electric Boat has about 3,400 job openings. As of September, there were an estimated 11,000 manufacturing openings statewide, according to the 2022 Connecticut Manufacturing Report, which was produced by the Connecticut Business & Industry Association and affiliates CONNSTEP and Ready CT. Among other key findings, the report noted that 87 percent of manufacturers reported difficulties finding or retaining employees and 44 percent cited the lack of skilled applicants as the greatest obstacle to growth.
CT Insider
The article points out that if Connecticut doesn’t fix the labor shortage, businesses and customers will demand to move elsewhere where labor shortages don’t exist. CT Insider does point out the cause of these issues:
The retirement of many older manufacturing workers since the beginning of the pandemic has also contributed to the proliferation of job vacancies.
CT Insider
The two states mentioned in the CT Insider point out that Texas, Florida and North Carolina have been big winners in attracting people to move to those states for now. So what are the potential profit opportunities here? It depends, if Connecticut can’t find a way to deal with the labor shortage then companies based their will be excellent shorting opportunities. Companies that deal with the issue by moving to other states may be good opportunities to invest for the long term.
We’ll keep researching so stay tuned, stay profitable and stay solvent…