WASHINGTON—U.S. labor shortages may outlast the coronavirus pandemic and limit overall economic growth unless the country comes up with better education, health, and childcare policies to boost the number of people willing and able to work, Richmond Federal Reserve President Thomas Barkin said on Tuesday.
“As our workforce ages and birthrates decline, we could find workforce availability limiting our economic growth,” Barkin said in prepared remarks for delivery to a South Carolina Chamber of Commerce event, noting that while labor shortages have appeared acute during the pandemic reopening, they represent a longer-term challenge to the country.
