Future Skill Shortages in the U.S. Economy?
AbstractThe impending retirement of the baby boom cohort represents the first time in the history of the United States that such a large and well-educated group of workers will exit the labor force. This could imply skill shortages in the U.S. economy. We develop near-term labor force projections of the educational demands on the workforce and the supply of workers by education to assess the potential for skill imbalances to emerge. Based on our formal projections, we see little likelihood of skill shortages emerging by the end of this decade. More tentatively, though, skill shortages are more likely as all of the baby boomers retire in later years, and skill shortages are more likely in the near-term in states with large and growing immigrant populations.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 17213.
Date of creation: Jul 2011
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Note: AG LS
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Find related papers by JEL classification:
- J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
This paper has been announced in the following NEP Reports:
- NEP-AGE-2011-07-27 (Economics of Ageing)
- NEP-ALL-2011-07-27 (All new papers)
- NEP-EDU-2011-07-27 (Education)
- NEP-LAB-2011-07-27 (Labour Economics)
- NEP-LMA-2011-07-27 (Labor Markets - Supply, Demand, & Wages)
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