With longer life expectancy, increasing numbers of baby-boomer retirements from the active labor force and a low birth rate that now is lower than the death rate, the U.S. increasingly faces the need to find more workers. The source is obvious: more immigrants.[1]
Barron’s Article[2]
A noted business publication, Barron’s, put it this way, “Across the nation, in industries as varied as trucking, construction, retailing, fast food, oil drilling, technology, and manufacturing, it’s becoming increasingly difficult to find good help. And with the economy in its ninth year of growth and another baby boomer retiring every nine seconds, the labor crunch is about to get much worse.”
“Census Bureau projections show the overall U.S. population, a rough proxy for the country’s demand for goods and services, growing faster than the workforce— which supplies those goods and services— through 2030 and probably beyond. From 2017 to 2027, the nation faces a shortage of 8.2 million workers, according to Thomas Lee, head of research at Fundstrat Global Advisors.”
Another restriction on labor supply is the “people [who] have dropped out of the workforce, owing to factors such as disability, opioid addiction, and prison records that make it hard to snare jobs. The labor force participation rate, which measures the percentage of the adult population that’s working or actively seeking employment, has dropped to 63% from 67% in 2000.”
Washington Post Editorial[3]
A Washington Post editorial opens with this statement: “American employers in an array of industries — manufacturing, agriculture, trucking, home building, energy, food service, retail and others — are warning that a long-brewing labor shortage is reaching crisis proportions.”
While the U.S. needs more skilled and English language-proficient immigrants, the editorial continues, “employers in food processing, retail, landscaping and other industries that rely on low-skilled labor are already desperate for workers.”
“By driving away legal and illegal immigrants even as unemployment flatlines and baby boomers retire, [President Trump] deprives businesses of oxygen in the form of labor. That’s not a recipe for making America great.”
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[1] The above demographic challenges are not just U.S. problems. See World Faces Demographic Challenges, dwkcommentaries.com (April 3, 2018).
[2] The Great Labor Crunch, Barron’s (Mar. 10, 2018).
[3] Editorial, America needs more workers. Trump’s war on immigration won’t help, Wash. Post (April 8, 2018).