WASHINGTON, Oct. 7 (UPI) -- Experts say the chances of a looming labor shortage in the next decade or so are high, a report on aging said Thursday.
The latest issue of the Public Policy & Aging Report, the quarterly publication of the National Academy on an Aging Society, explores the possible myths, realities and consequences associated with the shifting make-up of the U.S. labor force in coming years.
Steven Nyce and Sylvester Schieber of Watson Wyatt Worldwide suggest the United States cannot expect productivity to rise sufficiently to fully offset declines in the size of the labor force once the baby boom generation retires.
While employers may have some means to address likely labor force shortfalls, the authors see difficult choices ahead, especially those that may pit retirees against current workers.
On the other hand, Peter Cappelli of The University of Pennsylvania's Wharton School argues such concerns are overstated.
