It takes more information to understand labor shortages May 12,
1999 No single measure of occupational labor shortages exists.
However, a wide variety of available data can be used to assess
potential shortages. For example, dramatic growth in employment
is likely to reflect a significant rise in demand for a
particular type of worker. An unusually low unemployment rate or
rapidly rising wages might signal that demand for such workers
exceeds the supply. Used alone however, even this array of
statistical data is not adequate to definitively identify labor
shortages. Job vacancy data would be another obvious input to a
thorough analysis of labor shortages, if they are available. But
even when such data are available, it is important to keep in
mind that just because employers have vacancies does not mean a
shortage exists. Plainly, general statistical data on labor
shortages also should be combined with background information on
specific occupations and detailed knowledge of the workings of
the labor market. C