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Wednesday, August 04, 2004

The Labor-Shortage Myth via FC

When boomers start to retire, the theory goes, we'll see a job boom in the US. Too bad it won't happen, says this article.The US workforce is aging. By 2015, nearly one-fifth of workers will be over age 55. Around then, huge throngs of baby boomers will begin retiring. But,counters this article by saying - Boomers, who have always identified themselves more with work and career than did previous generations, are likely to explore alternatives to traditional retirement, such as second careers or cutting back on hours rather than giving up work completely. In a very practical sense, they have to: Their life expectancies have climbed past 77 at the same time that health-care costs have skyrocketed and savings rates have plummeted. The article concludes by saying,"The real solution, of course, is more difficult. It requires companies to invest in the right technologies and in their own employees in order to stay ever more productive. It's not as sexy as a demographic crutch. It just happens to be the right answer".

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