From a Buyer’s Market to a Seller’s Market: Declining Unemployment and Evolving Labor Shortages in the United States
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Despite the less-than-dramatic economic recovery underway in the United States and the likelihood of relatively slow GDP growth in the foreseeable future, demographic trends and the imminent departure from the workforce of the baby boom generation point to the emergence of a "sellers’ market" when it comes to skilled talent. Not only will this put more pressure on corporate profits, it may also restrict the national economy’s overall ability to grow and its competitiveness on the global market. Consider it the "darker side" of long-term declining unemployment.