The U.S. workforce is facing significant challenges due to the retirement of baby boomers and declining birth rates, leading to labor shortages. This report, developed by The Burning Glass Institute (BGI), uses the Labor Shortage Risk Index to assess potential shortages over the next 5-10 years across various occupations and industries. By integrating BGI’s insights with public labor market data, the report provides a comprehensive view of potential workforce gaps. Over the next decade, the U.S. is expected to experience a surge in job openings, with the Bureau of Labor Statistics projecting around 192 million openings. The Health Care and Social Assistance sector will have the most openings, but this sector is also at high risk of not finding enough workers to meet demand. Key occupations at risk include Registered Nurses, Nurse Practitioners, and Medical and Health Services Managers, among others. Despite the high number of openings, educational completions in health care have stagnated, exacerbating the shortage risk. Other sectors facing potential shortages include Construction, Installation, Maintenance, and Repair, which are dominated by older workers nearing retirement. The Transportation sector also faces challenges due to an aging workforce. Highly skilled areas like Legal and Financial Management are also at risk due to high retirement rates and increased demand. To address these shortages, the report suggests several policy approaches: improving education and training, expanding immigration, enhancing worker supports, and leveraging automation. Education and training can help address skill gaps, while immigration can supplement the workforce in high-demand areas.
Bridging the Gap: Meeting Workforce Needs Over the Next Decade,
Bipartisan Policy Center, April 2025, 47 pp.
Authors: Jack Malde & Theresa Cardinal Brown