We were just e-mailed this Reuters story and, as soon as we saw the topic, we immediately saw the need to write a rare evening post on it.
Today, Federal Reserve Bank of Dallas President Richard Fisher delivered a speech today before the annual meeting of the Texas Lyceum and echoed what we at the NAM have been saying for a long time: that manufacturers are faced with a critical shortage of skilled workers. In fact, research estimates that by the year 2010, we’ll face a shortage of some 8 million skilled workers, rising to 14 million by 2020.
The Fed President said, “Throughout this nation and especially in the state of Texas … (companies are) suffering from a shortage of skilled and semi-skilled labor.”
So, its nice to see some pretty smart economists sharing our views on this important issue. We couldn’t of said it better ourselves.