4 ms·
I found this article BLS article on the definition of a labor shortage interesting: https://www.bls.gov/opub/mlr/1999/03/art2full.pdf https://www.bls.gov/opub/
by asperous 4y ago
I found this article BLS article on the definition of a labor shortage interesting:
https://www.bls.gov/opub/mlr/1999/03/art2full.pdf https://www.bls.gov/opub/mlr/1999/03/art2full.pdf
The definition they settled on is "when the number of workers available (the supply) increases less rapidly than the number demanded at the salaries paid in the recent past".
According to this graph:
https://www.careerwatch.co/blog/electrician https://www.careerwatch.co/blog/electrician
Wages have gone up about 1.9% over the last 20 years which is just under inflation. That leads me to believe that there may not be a severe shortage. Are they just talking about this year? In which case I think every industry has claimed a shortage.
- bagels 4y ago1.9% per year?
- jmartrican 4y agoIt could be the case that many people rely on handymen or DIY to fill in the gap. Which may lead to demand being mitigated by shoddy work. Maybe a threshold was hit. The price of electricians could have gone up so high that people do it themselves or on the cheap, which leads to stagnation in electrician salary increases. If this is the case, inflation might mitigate the problem in the long run.... when people can afford electrician rates. I'm just hypothesizing here not claiming this is what is happening.
- brodouevencode 4y agoThis implies demand is still being met.