There are some fine points in this short article, but I found this paragraph fascinating;
In our dynamic labor market, workers are continually shifting between jobs or moving in and out of the market. Over on the employer side, jobs are continually being filled as new ones open up. Consequently, the individuals available for work and the jobs open are not the same from one month to the next, but the trend toward fewer available workers relative to the rising number of job openings shows, in broad terms, the increasing tightness of the labor market.
Of course, available workers vary in terms of experience, skills, and location, so they may not match the occupational, skill, location, and other needs associated with job openings. This “mismatch” problem becomes especially critical when the Worker Availability Ratio is relatively low, as it is currently.
These stats will eventually go topsy-turvy, in other words, there will soon be a shortage of skilled employees. Employers really will be ‘forced’ to not only pay higher wages to attract people but they will have to train those people also. In our state and city employers are trying to get taxpayers to foot the bill for this training, even starting blue collar job training programs as early as middle school. I don’t have an issue with that, but employers need to pony up also (some are) by offering on the job (paid) training and once that training is completed successfully, higher wages. Some say money doesn’t equal happiness, but I can’t buy groceries with a smile.