Journal Article

Challenging the shortage of skilled workers Baltic Rim Economies

Authors

  • Schrader
  • K.
Publication Date

The shortage of skilled workers has become the focus of political and public attention in Germany as a major obstacle to future economic development. It is foreseeable that the working-age population will shrink rapidly and that shortages will occur in an increasing number of professions. The significant decline in the labor force is due to the fact that the baby boomers of the post-war period will retire by the mid-2030s. At the same time, the demand for labor will not decline to the same extent as the supply of labor, resulting in a growing surplus demand. Bottleneck analyses show that there will be a shortage of workers in almost all sectors and that bottlenecks will affect a large number of occupational groups at all skill levels.

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