Every business I see is hiring. Businesses are shortening hours because they can't find people to work. Why?
Why is there a labor shortage? This makes no sense to me.
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Labor market mismatch is the term:
The most recent World Economic Outlook for April 2022 just released by the IMF has some evidence here, suggesting four possible hypotheses for the current labor market:
(1) labor market mismatch—discrepancies between the types of vacant positions and the skills of job seekers; (2) health-related concerns, which may be a strong driver of the withdrawal of older workers from the workforce; (3) changing job preferences among workers, which may account in part for historically high quit rates—a phenomenon sometimes called the “Great Resignation”; and (4) school and childcare center disruptions leading mothers of young children to exit the labor force—the “She-cession.”
https://conversableeconomist.com/2022/04/21/the-current-puzzle-of-labor-markets/
yea no shortage for highly paid work from home middle managers.
the early retirees aren't difficult to replace. it's their skilled/productive replacements that are difficult to replace