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Labour Shortages * Canada - This is becoming a global problem
ONT,Canada -Canadian Transportations & Logistics, by Stephen S. Poloz -December 14, 2007: -- We hear about labour shortages a lot there are not enough doctors, carpenters, plumbers, or skilled workers in general (except, perhaps, economists). This is becoming a global problem. Economists will tell you that labour shortages are not supposed to happen. When something is in short supply, excess demand pushes the price up. This reduces demand and increases supply. When it comes to skilled labour, the supply response is by necessity gradual, and may be very difficult, since it requires education and, perhaps re-education of transitioning workers... The solution? Grow the company without labour force growth. That means increasing automation in domestic plants, relying on only the most skilled workers, and expanding the business in other countries. A global production structure, facilitated by international trade, is the quickest route to higher productivity growth, as experience in the U.S. illustrates. Thats why global cross-border investment has been growing by some 30% per year in the last 3-4 years, and why a country like the Czech Republic can see inbound investment growing by 42% per year...
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posted by Unknown @ 6:01 AM
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