Labor Market 2000: Prospects Good; Worker Shortage Looms
The economy looks good, albeit a continuous labor shortage, according to the Economic Policy Foundation's annual report on the state of the economy.
The labor shortage may be as many as 5 million workers short, according to the report, 'Workplace Policy for the New Economy,' unless employment policies change industry-wide. The report is available at no cost.
Do the math: based on the strong economy, the Foundation predicts 18 million new jobs will be created before 2010, and through attrition, 24 million more workers who retire or die will need to be replaced by others. And, of the 5 million workers, 3.5 million will require college-level skills or degrees.
The release of the report coincided with Labor Day 2000.
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.