The Job Shortage Turns into a Worker Shortage

A worker shortage. As recently as early 2003, over two million workers had lost their jobs since the start of the recession in 2001. At 6.2 percent, the national unemployment rate hovered at the highest level it had been in nine years, and the number of new jobless claims lingered above 400,000 for 20 straight weeks. People were screaming about offshoring, downsizing, and a lack of jobs. Little did they realize that they were at the beginning of a new era when skilled workers would be in very short supply and companies would be begging.....

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