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The fact that labor markets are rapidly tightening is now common knowledge, and companies large and small experience the pain of finding qualified workers every day. The recent release of our annual Global Labor Market Outlook 2019 shows that the United States is certainly not the only place this is happening. Of course, the long economic expansion is an important reason for labor market tightness. But our analysis shows that other structural factors are at play: populations are aging, and technologies that substitute workers are developing at a slower pace than anticipated.
At The Conference Board we are committed to help companies think through how to prepare for the era of labor market shortages ahead.