Across the U.S. economy, a number of industries are facing the same formidable challenge: Replenishing a workforce that is being diminished by a surge of retirements that began during the pandemic and has continued since.
. On Friday, the government will issue the May employment report, which economists predict will show another solid gain of about 190,000 jobs.
“Everybody's getting ready to retire, and not enough people are coming in to take the jobs,” said Mike Myers, a maintenance manager for Piedmont Airlines, in Hagerstown, a regional feeder for American Airlines. Next month, Gower will join Commute Air, Bandoh’s company, along with three of his classmates, and will receive further training in Houston.
The result, he said, is an economy short of factory workers, backhoe operators, welders, electricians and other skilled trade workers. Tom Hood, an executive vice president of the association, said the industry is finding it hard to attract young college graduates. Many of them prefer data science or finance, while accounting struggles with a stuffier, more old-fashioned image.Nela Richardson, chief economist at the payroll provider ADP, said research shows that countries that have many retirees who spend money and consume and have fewer people working typically face higher inflation.
Gower, who is from Covington, Louisiana, near New Orleans, isn't exactly worried about a recession. His new job as a line mechanic at Commute Air will pay $30 an hour to start, plus higher wages for night shifts.Brian Prentice, a partner at the OliverWyman consulting firm, estimates that the aviation industry will endure a shortage of up to 18,000 mechanics this year — about 12% of current staffing levels. It will likely boost pay levels across the industry.
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