Time Will Tell
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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URL to article: http://pjmedia.com/vodkapundit/2003/10/28/time-will-tell