The labor market in 2023 can be summed up in two words: Help wanted. Almost every industry has faced challenges in hiring and retaining workers, with certain high-demand positions such as first responders, plow drivers, teachers, childcare workers, and medical professionals being particularly affected. Some of the issues contributing to this shortage include low wages, the lingering effects of COVID-19, and competition for workers due to rising wages in various sectors.
Communities and industries have responded to these challenges with creative solutions. Some have offered generous signing bonuses and paid training, while others have developed partnership programs to address workforce shortages. For example, New England College has introduced a program where nursing students gain real-world experience while hospitals gain much-needed workers. Similarly, Plymouth State University has partnered with the Franklin School District to help teachers earn their master’s degrees, boosting their base pay in the process.
The state of New Hampshire has also announced programs such as the First Responder Tuition Reimbursement Program to recruit more police officers, firefighters, and EMTs. These partnerships and incentive programs are expected to play a significant role in increasing the number of job seekers in 2024.
The labor market challenges of 2023 are the result of a combination of factors, including low wages for certain essential workers, the impact of the COVID-19 pandemic, and rising competition for workers due to increased wages in various sectors. These challenges have prompted communities, industries, and educational institutions to develop creative solutions, such as offering signing bonuses, paid training, and partnership programs. These initiatives are expected to have a positive impact on the recruitment and retention of workers in the coming year.
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