Economic expert warns of 'silver tsunami:' New retirees could strain the labor market

The video discusses the current labor shortage in the US, highlighting that there are more job openings than unemployed individuals. Factors contributing to this include pandemic aid, low migration, and a decline in women in the workforce. The retirement of baby boomers, termed the 'silver tsunami,' exacerbates the issue. Solutions proposed include promoting trade jobs, hiring immigrants, and using technology like AI. The shortage may lead to higher wages and increased prices for consumers.

What is the current number of job openings in the United States according to the US Chamber of Commerce?

What factors are contributing to the labor shortage in the US?

How is the retirement of the baby boomer generation expected to impact the labor market?

What steps can be taken to address the labor shortage according to Ron Hetrick?

What is the average retirement age mentioned in the text, and how has it changed?