Labor shortages as America approaches the twenty-first century

About this book

Predicting labor shortages is of great importance for planning education and training of the nation's present and future labor force. Malcolm S. Cohen has developed an innovative approach to measuring labor shortages. His work, originally sponsored by the U.S. Department of Labor, is presented here updated for 1994. If labor market information can be used to determine actual and potential labor shortages, individuals will be able to make more informed choices about education and career. Such information can guide many aspects of government policy. One particular use of Dr. Cohen's method is in the processing of applications by aliens for labor certification. The problem of identifying shortages has been a slippery one for economists, because labor shortages cannot be measured directly in the way wages can be. Dr. Cohen develops a theoretical model of labor shortages and provides an efficient and accurate method of determining labor shortages using labor market information. Actual indicators are developed for 193 occupational groups, covering all civilian occupations. Seven indicators, such as unemployment rate, are used to measure labor shortages at the national level. In addition, a chapter also deals with local labor market information.