July 3, 2007

Community Building Through the Earned Income Tax Credit (EITC)

EITC Cover Image

Over the next decade, 78 million baby boomers will retire. But, to both
the excitement and dismay of the American business community, the
jobs will not go, too. It is more complicated than that.What seems like a boon may well turn out to be a crisis. Experts agree that by 2010, the U.S. will have 168 million new jobs. Yet estimates suggest that there will be only 158 million workers to fill them. The already substantial growth in such industries as healthcare, retail, and hospitality will only continue to expand, as will the gains in other industries with a technology base. Yet, everywhere you look, employers are not overly optimistic about the economic future of the United States.
How can this be?

Simply put, businesses are struggling to find qualified workers. Making matters worse, employers are finding it increasingly difficult to retain their best employees. Increases in the skills required by employers, coupled with the fact that many employees do not possess the skills demanded and the inability of the workforce and education systems to adapt to changes in a technologically based, global marketplace, have created concern among employers. While such increases in the number of available jobs may seem to be a good problem, it poses a difficult scenario for managers in which they must establish effective, efficient
workplaces while maintaining workflow as they reduce absenteeism and turnover, especially among frontline and low-wage workers.