Goldman analysts led by Evan Tylenda published a note on emerging labor-market risks and how companies are adapting to aging demographics and shrinking labor pools.

One section stood out in particular: the widening mismatch between an oversupply of college-educated workers and a deepening shortage of talent for non-degree, hands-on jobs.

Tylenda and others on the team spoke with labor demographer Ron Hetrick, who outlined how the U.S. labor market is entering a structural slowdown driven by aging demographics, a falling birth rate, and weakening participation among older workers.

Hetrick outlined that baby boomers once supplied 65 million workers, but only 25 million remain, and no younger generation is large enough to replace them. 

He noted that BLS data show the workforce adding just 5.9 million workers by 2034, with nearly half of that coming from workers aged +65, even as participation among those +55 continues to decline.

Here’s where things get spicy: This demographic squeeze is creating a skills imbalance: an oversupply of college-educated workers and a shortage of vocational and lower-skilled labor for non-degree jobs.

From the note:

Shortage of skilled / technical labor: The Demographic Dilemma and resulting labor shortages make automation and AI success essential while simultaneously threatening to constrain AI’s physical scale-up via potential skilled labor shortages. The emerging bottlenecks lie in power generation, transmission and grid modernization, and upstream industries required for electrification and digitization such as manufacturing, and critical minerals mining and processing — industries with long project cycles, high regulatory friction, and limited talent mobility from displaced knowledge-worker pools.

Shortage of low-skilled labor in high turnover industries: where recent graduates and knowledge workers displaced by AI are imperfect fits. This is driving rising automation for low-skilled jobs, driven by rising costs, declining labor pools. For example, the U.S. added 4.5 mn workers with a college degree since 2019, while losing 800k workers without a degree. Automation in low-skilled roles (especially ones with repetition) has potential to help improve worker safety and pay for remaining workers, potentially driving lower employee turnover in the medium to long term.

We hosted Ron Hetrick, a labor demographer, to highlight the structural issues forming for labor markets in the U.S. coming from declining labor pools, particularly in lower skilled fields not requiring a degree. Mr. Hetrick sees mounting challenges for the aging and declining workforce in the U.S., with industries like Healthcare and Construction most exposed to disruption, driven by limited availability of labor solutions.

Companies adapting, and key solutions for addressing labor challenges. Corporates, across industries, are taking different measures to remedy risk of labor shortages, mainly around 1) Automation upgrades to boost productivity and consistency; 2) Retention efforts, including increased pay, better work conditions, enhanced benefits packages, providing childcare service etc.; and 3) Training & Upskilling through the expansion of their own training infrastructure and partnerships with external institutions.

ZeroHedge Pro subscribers can read the complete note in the usual spot. It’s loaded with far more detail on the shifting labor market, a framework that’s increasingly important to understand before the 2030s arrive. 

The most appropriate way to end the note is an epic quote by Palantir CEO Alex Karp:

The average Ivy League grad voting for this mayor is annoyed their education is not that valuable, and that the person who knows how to drill for oil has a more valuable profession.

I think that annoys the f*ck out of these people. 

Palantir CEO Alex Karp on Zohran Mandani:

“The average Ivy League grad voting for this mayor is annoyed their education is not that valuable, and that the person who knows how to drill for oil has a more valuable profession”

“I think that annoys the fuck out of these people” https://t.co/uYA54AYAJN pic.twitter.com/46XmHSB1gb

— Jawwwn (@jawwwn_) November 6, 2025

These days, college is a woke indoctrination factory pumping out our purple-haired creatures who are confused about their gender and rave about Marxism.

College is not like it used to be. There is an oversupply of unproductive “woke” degrees. Don’t be woke. Be productive, find a solid trade job that won’t be automated into extinction by 2030, and start a family; this is one pathway for GenZers.

Authored by T.J.Muscaro via The Epoch Times,

Agriculture Secretary Brooke Rollins suggested on Nov. 14 that everyone registered for the federal government’s Supplemental Nutrition Assistance Program (SNAP) benefits should reapply as a result of ongoing fraud discoveries.

At least, that is what she said when she shared what the Trump administration was planning to enact during her appearance on Newsmax’s “Rob Schmitt Tonight.”

“It’s going to give us a platform and a trajectory to fundamentally rebuild this program, have everyone reapply for their benefit, make sure that everyone that’s taking a taxpayer-funded benefit through SNAP or food stamps, that they literally are vulnerable, and they can’t survive without it,” she said.

This decision comes after Rollins disclosed on X that the U.S. Department of Agriculture (USDA) discovered that nearly 200,000 deceased people across 29 states received benefits.

The remaining 21 states sued to keep their data from being disclosed, according to the post.

The states that chose not to cooperate were mostly Democratic-run states.

More than 500,000 people were registered twice, she revealed.

She also said that the program experienced a 40 percent increase under the Biden Administration.

About 42 million people, or one in eight Americans, use the federal food program, and they receive $177 per person per month, on average, according to the latest USDA data.

Rollins, in an earlier interview, said that 80 percent of people using the program were able to work and described SNAP as one of the “most corrupt, dysfunctional programs” in U.S. history.

Those who choose to reapply would have to verify that they could not survive without it, she said. She also argued that the cutoff of some SNAP benefits would also incentivize more illegal immigrants to self-deport.

“In just the states that cooperated, we’ve already uncovered massive fraud,” Rollins said on X at the beginning of November.

“The Democrat Party has turned its back on working Americans and built its entire strategy around protecting illegal aliens. They know if the handouts stop, those illegals will go back home, and Democrats will lose 20+ seats after the next census.”

“There’s a new sheriff in town. @POTUS will not tolerate waste, fraud, or abuse while hardworking Americans go hungry,” she wrote.

SNAP beneficiaries became a poignant topic after the USDA ran out of funding for the program during the record-long government shutdown. Distribution of benefits was ordered to resume immediately after President Donald Trump signed a continuing resolution to keep the federal government funded through the New Year.

“The reduction in maximum allotments for November is no longer in effect,” the USDA said on Nov. 13. “State agencies should immediately resume issuing combined allotments for November and December for newly certified applicants who apply after the 15th of the month.”