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Boomers' retirement could lead to worker shortages 2010-03-24 As more baby boomers reach retirement age, the nation could face a surprising problem: worker shortages. The Dukakis Center for Urban and Regional Policy at Northeastern University reported this week that labor shortages are likely to occur by 2018, particularly in the social-services sector. The problem could cost the U.S. $3 trillion in lost output between 2018 and 2023, university researchers note. "A labor shortage of this magnitude could have a significant impact on our economy and on the quality of life in our communities," researcher Barry Bluestone said Monday to the Boston Herald. For now, though, it appears that many boomers are staying put in their jobs in a bid to shore up decimated retirement savings. The Associated Press reported Wednesday that migrations to Sun Belt retirement communities are slowing - a sign that people are opting to stay in their jobs or, at least, forego moving after retirement. "A growing number of baby boomers want to continue working after age 65, and many are choosing to live closer to cities to keep their options open," Population Reference Bureau associate vice president Mark Mather was quoted as saying.  |
