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Time Will Tell

October 28th, 2003 - 12:32 pm

Ed Lambert, himself an aerospace guy, sent this story:

After more than a decade of mergers, downsizing and layoffs, the nation’s aerospace industry is bracing for another jolt as more than a fourth of its work force moves toward retirement within the next five years, creating what experts call a “demographic cliff.”

Industry leaders say the potential mass exodus could create a work force crisis since the pool of younger replacements has been steadily shrinking for more than a decade.

Aerospace workers ages 30 or younger constitute less than 7 percent of the industry’s labor pool, compared with 18 percent in 1987, according to industry data.

Ed added that he first read about a similar problem back in the late ’70s, so maybe it’s not time to worry just yet. But how are we supposed to keep designing first-rate weapons (not to mention compete with heavily-subsidized Airbus for civilian liners), when our workforce is shrinking and Washington is limiting work visas?

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