MOSCOW, Idaho, May 6, 2021 /PRNewswire-PRWeb/ -- The national labor data experts at Emsi released today a bellwether research report outlining the trends and economic impacts from the historic decline in population growth. Labeled the sansdemic - or "without enough people" - Emsi's data reveals the demographic cliff facing businesses, colleges, and local communities in the coming years.
"We're approaching a major inflection point in American society, and the business and higher education communities must begin planning now for their future needs," said Emsi Chief Executive Officer, Andrew Crapuchettes. "Companies have been talking about the tightening labor market for several years, and our data identifies exactly what the business community has been feeling."
"The fact is, competition for talent is going to become brutal," added Emsi Director of Staffing Product, Ron Hetrick. "Businesses can no longer assume there will be enough people to go around. We are already starting to see substantial rises in wages as the market works to find the new equilibrium, along with production slowdowns from those companies that cannot find the talent."
"Colleges and universities, who are already experiencing declining enrollment, will find it increasingly difficult to maintain student numbers sufficient to operate the same way they have for the past twenty to thirty years. Many will struggle to keep their doors open," said Emsi Chief Innovation Officer, Rob Sentz.
"For the millions of dislocated and job-hunting Americans, the competition for a shrinking labor pool will likely produce greater opportunities, faster promotions, and more favorable benefits," Sentz concluded.
About Emsi
Emsi is an industry-leading economic data and analytics firm, specializing in labor market data, analyses, and consulting services for employers, higher education institutions, and economic/ workforce development professionals. Emsi data and analytics are used by leading businesses and institutions world-wide to understand shifting talent markets and labor trends, and to promote economic prosperity in their regions.
Read more and download the free ebook at https://www.economicmodeling.com/demographic-drought/
See a short video explaining the Sansdemic https://www.linkedin.com/posts/robsentz_beerwithemsi-demographics-censusdata-activity-6793921711235563521-z7DJ/
Media Contact
Rob Sentz, Emsi, +1 (208) 883-3500, [email protected]
SOURCE Emsi
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