Labor issues have plagued the ag industry for some time now, and a new report from CoBank shows little relief in sight, and potentially damaging consequences.
In their quarterly report, CoBank says the workforce shortage is set to be a long-term problem for the U.S. economy. They place blame on an aging population and falling birth rates. The group warns the U.S. is poised to enter a long period of retiring workers who will outpace new workers, and they say it could be a permanent shift. The average age of the current farmer is just under 60 years old.
Economists say these challenges will only add to issues facing agriculture, such as rising costs and lower prices.
