Was reading this interesting article... the same effect is happening all over the world. Jobless rate are falling and employers are forced to pay more money for the same people... Why is this happening? This snippet from this article clearly states it... (baby boomers!) To get the skilled labor, employers are forced to invest their money into attracting the available labor supply.... something is about to snap...
"No positions filled by workers will be eliminated but the removal of empty slots will allow Vermont to take advantage of a "retirement bubble" among government workers to save money — and avoid the kind of layoffs or hiring freezes other states have experienced recently, Smith said."
In the article they show the large increase in earnings between 2000 and the current time. Its quite interesting that the baby boomers going into retirement is making the news again. They have heaps of disposable income and controlling majority of the world's assets. I wouldn't be surprised if they are the reason why the economic is booming at the moment! All that money going into pension funds etc. is driving the market wild! Maybe these old guys actually know how to invest money... or do they?
"In 2000 there were 844 exempt employees across all branches of state government — including attorneys and judges — earning about $47.5 million in total pay and benefits. This year there were 962, earning about $80.4 million in total."
Here's a link back to the article: Click Here
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