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:
“There is virtue yet in the hoe and the spade, for learned as well as for unlearned hands. And labor is everywhere welcome; always we are invited to work.”
—Ralph Waldo Emerson (1803–1882)
“As long as green hills are there, never fear a shortage of firewood.”
—Chinese proverb.
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