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[–] 8 points 2 years ago*

You can have both a labor shortage and mass unemployment. It occurs when workers are skilled for an industry with decreasing or no demand while another industry that requires different skills has increasing demand.

A good example of this is the high demand in the US for so called "Blue Collar" jobs. We have a shortage of trades people (Electricians, Plumbers, HVAC, etc) and far too many Business and Marketing people. There's 100,000 MBA's out there looking for a job and there's 100,000 Plumbing Contractors trying to hire someone.

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