The Retirement Boom and Blue Collar Shift: Impacts on Labor Market

The retirement of baby boomers is causing a labor shortage that is likely to continue and worsen, leading to a "Forever Labor Shortage." This will result in a competition for workers, leading to higher salaries, better benefits, and faster promotions for younger workers. Companies will also be forced to employ those they have long shunned or ignored. However, employers will not take this lying down and will introduce innovations such as offshoring and eliminating the need for workers altogether.