The local shops are facing unprecedented challenges as they struggle to remain open due to a significant workforce gap that is only expected to worsen.
The Baby Boomers are retiring faster than the economy was ready to absorb, resulting in a labor force shortage that threatens the viability of many businesses.
A report indicates only 6.4 million workers are projected to join the labor force by 2032, leading to alarming shortfalls in available labor.
With just 900,000 workers below the bachelor's degree level expected to enter the market over a decade, many businesses might find it impossible to operate efficiently.
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