Why is there a shortage of workers in 2022?
July 2, 2022
This is a question I was wondering about, so I did my research.
This is why there are huge worker shortages in 2022, and probably in 2023:
- COVID. Many died, and many are still suffering long term problems. So, in both cases, they no longer can work.
- Boomer Bust! Many boomers are retiring, while many others are starting their own business … like becoming freelance web designers.
- Immigration disruptions. Apparently immigration make up 5% of the global workforce. Covid lockdowns shut that down.
- Workers are changing jobs for flexibility and higher pay.
- Technology skills gap. According to a recent study, 87% of employers say that they are struggling with skills gap issues and/or expect to … within just a few years.
We are either in, or will be in a recession soon. But it is a strange recession, where the above dynamics mean that highly trained people will be able to find great jobs. So the best thing you can do now is up your skills, make professional connections, and try to be someone that makes other peoples lives easier.
There is still a huge (and growing) shortage of tech professionals (developers, coders etc …) and it makes sense to learn these skills to maximize your income. From my experience, people who transition into a tech career, can see their incomes easily double from their current non-tech jobs.
… And when you do, save and invest your excess income for a few years to extricate yourself from the rat-race.
In full disclosure, I teach people how to become highly valuable coders, developers and tech professionals in my bootcamp / mentoring program.