As many who follow the economy realize, the United States is about to go into a very strange period where many current workers retire but many fewer people come into the workforce. Workforce development specialists have been calling out about the problem for years, but it’s only recently beginning to come to the attention of the general public.
In the Duluth Superior area, several groups have been working on making sure that we’re a competitive area to attract workers — and therefore future economic development — for several years. Duluth’s Mayor, Don Ness, even sponsored a city task force in 2007 to address the issue. The issue is also at the core of economist Richard Florida’s ideas about the future of the economy, though many economists understand the issue from similar perspectives.
The New York Times on Saturday has a story about what Iowa is having to do to attract workers. In part, the article talks about the steps that employers are having to make in Iowa to attract and retain workers. One example: “Stacy Berenguel, 28, a financial advisor at Citi Smith Barney, said that while she was very conscious of talk of a national recession, some of her friends in Iowa were switching jobs over company amenities, like fitness centers.”
But the issue is about more than amenities. The Times articles says: “The state provides a small, advance view of what some economists predict will be a broader shortage of skilled workers in the next 20 or 30 years, as tens of millions of baby boomers retire from the workplace, and the economy produces more new jobs than workers. Potential consequences include slower economic growth and competitiveness, as well as higher wages for skilled workers and greater inequality.”
The issue is highly contentious because some groups — fearing immigration — want to downplay the possible shortage.
The Duluth Superior area already has several groups working on understanding the consequences for the region and thinking of ways to make the area more attractive to workers. The whole Knight Creative Communities Initiative is about making the area more attractive to workers, but it builds off of earlier work done by The Northland Works Partnership and the Attracting and Retaining Young Adults Task Force of the Duluth Superior Area Community Foundation.