Where Will Job Markets Be Tightest?

Waiting for the U.S. Labor Force Participation Rate to rebound? Demographic trends and the graying population will likely make a full return difficult to achieve.

The demographic headwinds that keep the current labor market tight look unlikely to dissipate soon, and they will continue to fuel wage pressures in key sectors where the shortages are most acute and where neither immigration nor technology look likely to help. While we might see some pick up in the supply of labor in the near-term, a portion of the decline is due to an aging population and rise in retirements, which will likely prevent the labor force participation rate from fully rebounding and keep it trending lower over the decade ahead.

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