Completely agree with you Greenmountain. I have been saying the the same thing for years. A lack of skilled labour slows economic growth slightly.
There are more jobs sitting empty than there are unemployed workers. The unemployed can’t fill those empty jobs because they don’t have the necessary skills or abilities.
Obviously the ideal solution is to train Americans to fill those empty jobs. However, that takes time and money, and businesses need to fill those jobs asap.
Another solution is to bring in skilled labour from other countries. Current policies seem to be aimed at reducing the immigration of skilled labour.
Some businesses attempt to poach workers from other businesses by offering higher wages or other perks. Not all businesses can afford to do this due to competitive pressures.
Some businesses attempt to make up for worker shortages using technology and automation, but not businesses are easily automated.
And some businesses resort to offshoring some of their business when they simply can’t get it done in the US.
Part of the problem is the large number of retiring baby-boomers. The number of Americans aged 65+ was 8% in 1950. Today it is 17%. By 2030 it will be 21%. Add in the 24% of Americans under 19, and soon the US will have only 55% of the population between 18 and 65.Though there will always be some workers under 19 and over 65, the shortage of workers, and especially skilled workers, is only going to get worse.
Without immigration of skilled labour, businesses will not be able to expand without the use of more automation, or more offshoring.