The declining birth rate has come for most advanced countries, and the US is no exception. Now, we are starting to see what a labor market reshaped by years of low fertility looks like and what the future may hold. 

Ron Hetrick of Emsi and Rob Sentz, formerly of Emsi, joined me to discuss their report on what they’re calling a “sansdemic” — literally, “without people” — labor market. They focused on how this low fertility will affect the economy and what, if anything, the government can and should do in response to these developments.

Show notes:

What to expect when no one’s expecting

Emsi 

Emsi report

On the strong labor market before the pandemic 

On the retirement of boomers

On the lower engagement with the workforce among some Americans

On the April Job Openings and Labor Turnover Survey report

On the great wealth transfer  

On women in the labor force 

On the declining birth rate within the US

On the issues with prime-age men  

National Bureau of Economic Research video games study 

On the young people who need jobs  

On the tight labor market today

On the coming lack of work  

On why automation won’t take your job  

CGP Grey video about automation 

Brent Orrell on the labor shortage 

On the Japanese birth rate