Rochester TRENDS: The Demographic Drought: Bridging the Gap in our Labor Force
Thursday, September 29, 2022 (11:00 AM - 12:00 PM) (EDT)
The US is suffering the beginning stages of a sansdemic: a lack of people to do all the work that needs to be done. Between 2011 and 2021, nearly every county in the US saw declines in its working-age population. The 2020 census shows that 16 states saw net population decline over the past years—the worst numbers since the Great Depression.
Employers and higher ed are already feeling the pain but the people shortage is only projected to get worse. So how did we get here? What are the economic ramifications? And is there anything we can do about it?
Join us for a special presentation from the lead author of The Demographic Drought and its follow-up report released in February of 2022, Ron Hetrick, Senior Labor Economist and VP of Staffing Product at Lightcast. With 30 years experience in labor economics, he is a leading expert in the current state of the U.S. labor market. Hetrick will answer these questions by analyzing past, present, and future workforces. From baby boomers to millennials to the 2020 Baby Bust, we track the rise and fall of America’s population and labor force participation rate. We also outline how employers and higher ed institutions can survive the sansdemic when it hits in force.
- Changing demographics have left us without the labor force we need to continue growing as we have in the past.
- Industries that pay less than $20/hr are particularly facing an acute labor crisis for several reasons that will be explained.
- The pandemic created historic demand for some sectors that will have to be corrected going forward. Were you in an industry that benefitted or was hurt by this demand? Will you benefit from the correction?
- Labor may never be plentiful going forward but companies can employ strategies now to protect them in the future.
- What do the next 10-20 years hold for companies looking to expand hiring or target certain age demographics?
If you would like to know more about our featured speaker, please click HERE
Complimentary for Greater Rochester Chamber members
$25 for non-members
Rochester TRENDS: Chamber Featured Speaker Series