The global labor shortage crisis is here. The US economy alone needs 4.6 million additional workers per year to maintain current levels of supply, demand, and population balance.
That amounts to 2% of the US population—and shortages are even more dire elsewhere: Germany needs to find 1.6 million workers (3%), South Korea needs 2 million (5.5%), and China needs 47 million (5%).
Global Labor Market Outlook 2024, a new seven-part series from The Conference Board, examines the root causes of labor shortages; the negative effects of scarce labor on business performance and economic growth; and the number of additional workers needed to eliminate shortages and where to find them.
https://www.conference-board.org/publications/global-labor-market-outlook-2024-solving-global-labor-shortages
