Amid the greatest labor shortage in a generation, organizations are scrambling to find workers. With many struggling to endure the moment, the most complete solution lies in overhauling our approach to talent.
Prior to the tumult of the past two years, a couple of trends amplified our vulnerability to the talent dearth we currently face. First, the birth rate has declined since 2000. For over 20 years, Americans haven’t adequately replenished the workforce in meaningful numbers. Additionally, the U.S. civilian labor participation rate has been steadily declining since the financial crisis of 2008. At the onset of the pandemic, it plummeted even further. Today, the labor participation rate sits at an anemic 62%, far from its peak of nearly 67%, resulting in fewer people to produce the goods and services to drive our economy.
If this nation is going to realize our potential, we will need to grow and develop the American workforce. Each year, 700,000 people released from the criminal…
Read the full story from the Washington Business Journal.
