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Statistical evidence suggests that a worker shortage is a very real threat to the US labor market Most analysts cite the routine reasons demographics the aging baby boomers and slowed population growth decreases in immigration since the September 11 terrorist attacks and a slowdown of economic growth and job creation While these statistics suggest a possible reduction in the labor force they do not take into consideration other less tangible factors The changing landscape with regard to how people work will simply shift There will not be a future labor shortage instead however there will be a shift in how the labor force is defined Baby Boomers The most frequently cited reason analysts cite for the future labor shortage is the aging of the baby boomer generation and the slowdown of population growth The theory is that many Baby Boomers are at or reaching retirement age and are dropping out of the workforce However recent concerns over Social Security system failing the lack of retirement planning and escalating consumer debt will force many to continue working beyond retirement age Granted older workers will not be able to work as much due to health concerns and family commitments so companies will have to find alternative work arrangements for this group of employees Offshoring It is also commonly felt that the number of jobs in the US is decreasing This is not necessarily so The trend for many companies over the last several years is to offshore many jobs to less expensive labor markets In particular India the Philippines and China have been particularly attractive for their well educated plentiful and cheap workforces As a result many manufacturing IT and customer service jobs have been sent to these areas because of the tremendous cost savings they offer to companies The number of jobs hasnt decreased companies are simply moving them outside of the United States With this said if there truly is
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