Academic journal article Journal of Accountancy

Widespread Labor Shortage Looms for the 1990s

Academic journal article Journal of Accountancy

Widespread Labor Shortage Looms for the 1990s

Article excerpt

WIDESPREAD LABOR SHORTAGE LOOMS FOR THE 1990s

The biggest problem for the U.S. economy in the 1990s will be a shrinking number of new job seekers that will force companies to hire employees they would not have hired in the past. That was the principal conclusion of the Conference Board's Human Resource Outlook Panel, a group of 10 leading labor experts who meet each year to examine the employment outlook.

Not only will the number of job seekers decline, but the new group will consist predominately of women and immigrants. This will compel companies to spend additional time and money on training. Indeed, panel member Madelyn Jennings, senior vice-president of personnel at Gannett Company, says, "All of this will require much more training, with more time and money spent teaching some employees basic skills. Training will probably become one of the big growth industries of the 1990s."

Audrey Freedman, chairwoman of the panel and management counselor at the Conference Board, suggests companies should start looking for ways to bring new people on board rather than screening them out. …

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