In its narrowest definition, a labor shortage is an economic condition in which there are insufficient qualified candidates (employees) to fill the market-place demands for employment at any price. Such a condition is sometimes referred to by Economists as "an insufficiency in the labor force."
Read more about Labor Shortage: Economic Impact, Measuring The Labor Force, Wages As A Factor in Labor Shortages, Apparent Shortages and Multitudes of Skills
Famous quotes containing the words labor and/or shortage:
“... we, like so many others who think more of working than of dying, care only to push on steadily, wishing less for cessation of toil than for strength to keep at it; and for wisdom to make it worthy of the ideal of labor and of life which we believe to be the most precious gift of Heaven to any soul.”
—Elizabeth Stuart Phelps (1844–1911)
“In the event of an oxygen shortage on airplanes, mothers of young children are always reminded to put on their own oxygen mask first, to better assist the children with theirs. The same tactic is necessary on terra firma. There’s no way of sustaining our children if we don’t first rescue ourselves. I don’t call that selfish behavior. I call it love.”
—Joyce Maynard (20th century)