The Future of the Job Market is Not What You Might Think

Just found out about a good article in The Futurist magazine about the future of the job market. In the current economy we’re all concerned about creating enough jobs to get back to something resembling full employment. But given the demographics of the work force, employers who think long term may have a very different challenge ahead of them.

This isn’t new news, but it does serve as an important reminder:  ignore demographics at your peril.

This comment is from an article by Patrick Tucker in

The newest issue of THE FUTURIST magazine features writing from career and labor experts John Challenger and Edward Gordon. The picture they paint of the future of work may prove surprising for a number of readers. For instance, despite the presence of millions of people out of work, a shortage of skilled labor could have a devastating effect on the U.S. economy in the decade ahead, according to Gordon.

The full article in The Futurist is available only to paid subscribers, but it can be downloaded as a pdf file for a one-time fee of $3.00. The essential message is simple: as the Boomers retire, there is likely to be a huge shortage of talent in the United States (and no doubt in other countries as well).

As an employer, you should start doing something about it now, while the current slowdown gives you a bit of a break. As an individual, do some soul-searching about what kind of job you want to be in five to ten years from now, and get started on the research and training you’ll need to have.

We’ve written about this topic before (we are futurist, after all). For a more in-depth commentary on the future of the job market, you might find some value in this article from way back in October 2003: “A Dirty Little Secret:  The War for Talent is Over, and Talent Won.”

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