Labour Shortage

A labor shortage occurs when there are not enough qualified workers available to fill all open jobs in a particular industry or region. This can happen due to factors like an aging workforce retiring, insufficient new workers entering the job market, or skills mismatches where workers lack the necessary training. As a result, businesses may struggle to operate efficiently, leading to delays, increased wages, or reduced output. Labor shortages can impact economic growth and consumer services, highlighting the importance of workforce development and immigration policies to meet employment demands.