Skilled Labor Shortage

A skilled labor shortage occurs when there aren't enough qualified workers to meet the demand for specialized jobs, such as electricians, technicians, or healthcare professionals. This gap can slow down projects, increase wages, and impact economic growth. It often results from factors like aging workers retiring, gaps in education or training, and rapid industry growth. Addressing this shortage typically involves improving education and training programs, attracting more workers to these fields, and offering better incentives to fill skilled positions efficiently.