Employers can't find enough young, cheap labor because of declining birth rates, reducing the available pool (blue line year over year growth in decline on an average basis since the mid-1980s, lower than 1% for 20 years).
There's still plenty of older, more expensive labor out there, but employers keep getting rid of them and won't rehire them (red line year over year growth steady between 2-3% for 20 years).
