Source: David Hill – Reporter, Triad Business Journal (02/05/25)
At an executive breakfast hosted by Graham Personnel Services, Scott Insurance, and BRC, senior labor economist Ron Hetrick delivered a stark warning about the looming labor shortage, emphasizing that demographic shifts, economic pressures, and policy decisions are converging into a “perfect storm” for employers. He highlighted that the Greensboro-High Point metro area has already seen a decline in workforce numbers, while nationally, fewer young workers are replacing retiring baby boomers. Hetrick debunked common misconceptions, such as the idea that artificial intelligence will fill workforce gaps or that longer career spans will offset retirements. He stressed the crucial role of immigrant workers, particularly in construction and manufacturing, in sustaining the labor force. Employers were urged to consider strategies like competitive pay, broader hiring practices, and family-friendly workplace policies to attract and retain talent in an increasingly scarce labor market.
This information originated from www.bizjournals.com. A membership may be required to see the full article: Storm warning: Labor-market consultant compares coming demographic shifts to hurricane coming ashore
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