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• W1531134521 abstract "As the baby boom generation reaches retirement age,researchers are preparing for declines in the growth of the labor force anddecreases in the labor supply for small firms. This investigation explores how small firm owners can avoid possible laborshortages during the next decade.Four possible scenarios aimed atalleviating small owner labor shortages are presented. It is suggested thatincreases in the labor force participation rate (LFPR) of the baby boomers willincrease labor supply; due to insufficient retirement savings and pensions,many baby boomers will return to work, seeking the flexibility associated withsmall firms. Spot shortages may also occur in quickly growing sectors,leading to shortages in skilled labor.Immigration rates are projected tomaintain their consistency, with many immigrants employed by smallfirms.Unfortunately, mismatches in required job skills may lead to laborshortages in rapidly growing fields--e.g., food services and hospitality--thattend to be less labor intensive. Finally, small businesses may employ more semi-retired individuals to avoidpaying expensive benefits, especially if the worker's age qualifies him or herfor Medicare.The pros and cons of employing an older labor force arediscussed. (AKP)" @default.
• W1531134521 created "2016-06-24" @default.
• W1531134521 creator A5036016644 @default.
• W1531134521 date "2005-01-01" @default.
• W1531134521 modified "2023-09-23" @default.
• W1531134521 title "The Future Small Business Workforce" @default.
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