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Projects Significant Labor Shortages by 2018; Workers Over 55 Will Be Key to Closing the Gap

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As surprising as it sounds in the current employment market, a renowned labor economist projects that there will be more jobs than people to fill them in the United Statesby 2018.

Assuming a return to healthy economic growth and no change in immigration or labor force participation rates, Barry Bluestone, Dean of the School of Public Policy and Urban Affairs atNortheastern University, predicts that within the next eight years there could be at least 5 million potential job vacancies in the United States, nearly half of them (2.4 million) in social sector jobs in education, health care, government and nonprofit organizations. The loss in total output could limit the growth of needed services and cost the economy as much as $3 trillion over the five-year period beginning in 2018.

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