Health
Employment Woes
America could be facing an employment shortage of almost 5 million workers by the year 2008 unless policies are put on a dramatically different track, according to a report released today by the Employment Policy Foundation entitled Workplace Policy for the New Economy. While the employment picture has never been better, the nation's labor shortage could become quite deep, threatening the nation's prosperity and slowing down the American economic engine in years to come.
According to EPF's projections, there will be 18 million new jobs created in the next eight years and an additional 24 million workers will need to be replaced due to retirement and death if the economy continues to grow at its present rate. The result could be a shortage of 4.6 million workers, of which 3.5 million will need college-level skills. According to Ed Potter, president of the EPF, U.S. employment policy is still stuck in the 20th century. American employment has shifted radically in the past decade, with unemployment at its lowest level in 30 years. "The next president of the U.S. should employ a new employment policy framework to cope with the changes in the workplace that have been ushered in with the New Economy," said Potter. He also suggested new employment policy initiatives, including promoting education and retraining and encouraging flexible work arrangements.
Over 2 million more Americans hold jobs this Labor Day compared to last, just as has been the case for 17 of the last 18 years. Total jobs have increased by 41 million since 1982, and the duration of unemployment has dropped 30 percent to an average of six weeks. "Workers today enjoy higher compensation, better working conditions, more opportunity and greater productivity than ever before," added Potter. "But just as the Internet economy has transformed the way business is conducted, public policy governing employment must also evolve to the next level in order to ensure the continued strength of the overall economy."
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Do you love your job? Use the ThirdAge career transition troubleshooter to find your way to happiness.
According to EPF's projections, there will be 18 million new jobs created in the next eight years and an additional 24 million workers will need to be replaced due to retirement and death if the economy continues to grow at its present rate. The result could be a shortage of 4.6 million workers, of which 3.5 million will need college-level skills. According to Ed Potter, president of the EPF, U.S. employment policy is still stuck in the 20th century. American employment has shifted radically in the past decade, with unemployment at its lowest level in 30 years. "The next president of the U.S. should employ a new employment policy framework to cope with the changes in the workplace that have been ushered in with the New Economy," said Potter. He also suggested new employment policy initiatives, including promoting education and retraining and encouraging flexible work arrangements.
Over 2 million more Americans hold jobs this Labor Day compared to last, just as has been the case for 17 of the last 18 years. Total jobs have increased by 41 million since 1982, and the duration of unemployment has dropped 30 percent to an average of six weeks. "Workers today enjoy higher compensation, better working conditions, more opportunity and greater productivity than ever before," added Potter. "But just as the Internet economy has transformed the way business is conducted, public policy governing employment must also evolve to the next level in order to ensure the continued strength of the overall economy."
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Do you love your job? Use the ThirdAge career transition troubleshooter to find your way to happiness.
