The skilled labor shortage we were worried about? It’s here.

05/02/2018
05/02/2018 CHRC

The skilled labor shortage we were worried about? It’s here.

You may have seen the article in Monday’s WSJ that spoke about towns and companies enticing younger people to move with $5,000 to help pay student loans or pay for a house.  Mike Allgrunn, an economist at the University of South Dakota, dubs these “a modern-day Homestead Act.”

From the above graph, courtesy of the Atlanta Fed, you can see the one demographic driving higher wages: youth.  Run this graph through its various iterations: education, race, and census division; none of these statistical parsings come close to showing the large wage difference for just being young.  Why? Because we have a shortage of young workers.  Especially young, skilled workers.  Here’s another great article from Reuters.  Read More Here