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Around the globe, nearly every industry is experiencing a skilled-labor shortage. A recent report predicts that by 2035, Germany will suffer a labor shortage of 7 million skilled professionals. In the UK, an ONS survey found that 13.3 percent of businesses reported a labor shortage alongside 1.19 million vacancies across the country, “similar to the number of unemployed people.” And in the US, the Chamber of Commerce and Bureau of Labor Statistics data found that roughly 3 million people have disappeared from the American workforce since 2020.
While the exact causes of the labor shortage may vary from country
