Automation is making a comeback
May 31 | Gad Levanon, Ph.D., Chief Economist, North America, The Conference Board | Comments (0)
Now, more than in any other time during this decade, we see signs of a comeback in automation activity. The timing could not be better. Labor shortages are becoming a growing problem for the US economy, especially in jobs that do not require a college degree, which in large part are the jobs where automation is likely to have the most impact. From a demographic perspective, this problem is only going to get worse.
Participate in our 2019 Labor Shortages Solutions Survey
May 28 | Gad Levanon, Ph.D., Chief Economist, North America, The Conference Board | Elizabeth Crofoot, Senior Economist, Labor Markets, The Conference Board | Robin Erickson, Ph.D., Principal Researcher, The Conference Board | Comments (0)
There are many anecdotes in the media today of employers across a range of industries wanting to hire more people, but not being able to find them: trucking companies facing driver shortages, retailers and restaurants being short-staffed, and construction companies and manufacturers encountering a limited supply of skilled or STEM-educated applicants.
What’s new in the US labor market – May 2019 Edition
May 15 | Gad Levanon, Ph.D., Chief Economist, North America, The Conference Board | Comments (0)
In 2009, the US labor market was the weakest since the Great Depression. In 2019, after a decade of strong hiring and the retirement of about 3 million baby boomers a year, the US economy is experiencing the lowest unemployment rate in 50 years. Employers are experiencing historical difficulties in recruiting and retaining workers, especially in blue-collar and low-paid occupations. In the next 12 months, despite some slowing in economic growth, labor markets will get even tighter.
Why Are Labor Markets Tight in Central and Eastern Europe — Policy and Business Implications
March 25 | Frank Steemers, Associate Economist, The Conference Board | Comments (0)
With labor markets tightening and labor costs rapidly rising in Central and Eastern Europe, the advantage of lower labor costs compared to the rest of the continent will further shrink over time and could mean that businesses will shift operations elsewhere.
March 25 | Brian Schaitkin, Senior Economist, The Conference Board | Comments (0)
Cities that are among the most well educated tend to attract a disproportionate share of headquarters jobs. For example, Washington, New York, San Francisco, and Minneapolis all have a far higher percentage of college educated workers than the national average. An exceptionally well-educated workforce is a stronger draw for firms making headquarters location decisions than one more typical of the population.
Teleworking continues to rapidly expand
March 11 | Gad Levanon, Ph.D., Chief Economist, North America, The Conference Board | Frank Steemers, Associate Economist, The Conference Board | Comments (0)
Employers are facing a prolonged tight labor market for the first time in an era when advanced remote working technologies are available. To address talent shortages, companies can use teleworking to broaden the pool of potential workers. Teleworking is especially playing an important role in addressing talent shortages in white-collar occupations, but less so among blue-collar and low-paid service occupations.
Explaining Harley Davidson’s Mid-Life Crisis
February 25 | Gad Levanon, Ph.D., Chief Economist, North America, The Conference Board | Comments (0)
Spending on motorcycle sales are almost exclusively concentrated in middle-aged, white households. It turns out that in the next ten years, the number of consumers in this group is likely to shrink faster than any other population group in the US. We predict that these demographic shifts alone will lower spending on motorcycles by 3.7. Motor cycles are just one example of a product class where a core group of customers is aging out of a key demographic.