4 Countries with the Highest Labor Shortages

4 Countries with the Highest Labor Shortages

4 Countries with the Highest Labor ShortagesBecause of the significant disruption to the work force that the COVID-19 epidemic caused the aftermath is sometimes referred to as “The Great Resignation.” The workforce saw a transition in 2022, with over 50 million people departing their positions, compared to a tendency of 47.8 million resignations in 2021. But by August of 2023, 30.5 million workers had quit, reversing the trend.

Employees moved to different positions in search of better work-life balance, flexibility, better pay, or a more stable workplace culture. Some industries are more affected by these dynamics as it keeps a careful eye on changes in job openings, labor force participation, and quit rates across the nation. In spite of the fact that many companies generate hundreds of thousands of jobs every month, there is a severe shortage, especially in the professional and business services industry. As a result, companies are working together and striking partnerships in order to swiftly fill open positions due to shortages.

Here are 4 countries with the highest labor shortages

4. Portugal

Skilled Labor Shortage: 81%

Ageing Population: 23%

Portugal is now experiencing a severe labor crisis, according to Eurostat, with 58,000 job openings being unfilled for more than 100 days in eight critical industries. Many industries, including information technology, healthcare, hospitality, construction, agriculture, and renewable energy, are feeling a severe shortage of competent labor. Portugal launched the “Working in Portugal” initiative in response to this difficulty, with the goal of luring a foreign labor force to occupy these vital positions. High-demand industries with high salaries include IT, business support, healthcare, and construction. Specialized people can find jobs in these fields. It is important to note that the center area of the nation, in particular, is a hotbed of work opportunities, with positions available for machine operators as well as those in transportation, healthcare, and civil construction.

READ MORE: 5 Countries with the Worst Work Life Balance

3. Germany

Skilled Labor Shortage: 82%

Ageing Population: 22%

According to the DIHK Chamber of Commerce and Industry, despite the nation’s economic stagnation, half of German businesses are struggling with a labor shortage. 50% of the surveyed employers reported having difficulty filling openings due to a shortage of trained personnel, a modest improvement from January. There are still almost 1.8 million open positions, which might result in a loss of added value of about 90 billion euros, or more than 2% of GDP. The most impacted industries are manufacturing and construction, where 54% and 53% of businesses, respectively, are having labor issues.

READ MORE: Understanding and Handling Layoff Survivor Guilt

2. Greece

Skilled Labor Shortage: 82%

Ageing Population: 23%

Recently, the Greek government approved laws aimed at addressing a serious labor shortage. The shortage is harming several sectors of the economy by legalizing the documents of some 30,000 unregistered migrants. The move is intended to mitigate the effects of the labor outflow brought on by the Covid-19 outbreak. Mostly in the fields of construction, tourism, and agriculture. Supporters of the measure contend that it would assist integrate immigrants into the workforce, increase public income, and alleviate labor shortages. While critics claim it is dangerous and might draw in more undocumented immigrants.

READ MORE: 3 Reasons For Massive Tech Layoffs in 2024

1. Japan

Skilled Labor Shortage: 85%

Ageing Population: 30%

According to a recent poll, 86% of Japanese municipalities are actively looking to hire more foreign worker. It is in order to meet the problems presented by the aging of the population and labor shortages. To close these gaps, a number of industries, including technology, healthcare, and education, are aggressively seeking out foreign talent. The nation with the greatest global labor shortfall is Japan.

Leave a Reply

Your email address will not be published. Required fields are marked *