1.
Labor Shortage Cycle
1 2
3
4
5
LABOR SHORTAGE
Increases labor costs and
turnover
TURNOVER
Decreases productivity
UNFILLED ROLES
Pressure on existing
employees to maintain
output
PRESSURE
More turnover and people
transferring to lower
pressure/high wage industries
COSTS INCREASE
Profitability per unit of
output increases

2.
Costs Increase
Output is Flat

3.
2020
Employed Population
48.9%
2030
46.2%
-2.7%
Labor will remain scarce

4.
0.1%
0.1%
3.5%
3.5%
The trend will continue

5.
Technology
& Automation
Labor
Productivity
Hours per
Employee