How demographic shifts are causing a labor market crunch : Planet Money : The Indicator from Planet Money America is getting older which is bad news for the state of the labor market. Today, we learn how lower fertility rates and retiring seniors are contributing to shortages in the labor force.

The graying of America

The graying of America

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Lay Guzman stands behind a partial protective plastic screen and wears a mask and gloves as she works as a cashier at the Presidente Supermarket on April 13, 2020 in Miami, Florida. Getty Images hide caption

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Lay Guzman stands behind a partial protective plastic screen and wears a mask and gloves as she works as a cashier at the Presidente Supermarket on April 13, 2020 in Miami, Florida.

Getty Images

For years, demographers were concerned about what's been called a "silver tsunami." As fertility rates in the United States continue to decline and more baby boomers enter retirement, more attention is being paid to the possibility of labor shortages. The pandemic hastened this trend as the rate of retirements picked up and towns like Hanover, New Hampshire are experiencing the harmful effects.

Today, we explain the concept of demographic drought and what could be done to offset it in the United States.

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