A labor shortage occurs when there are not enough workers available to fill job openings in a specific industry or region. This situation can arise due to various factors, including an aging population, low wages, or a lack of necessary skills among job seekers. As a result, businesses may struggle to find qualified employees, which can hinder their growth and productivity. Labor shortages can impact the economy by leading to increased wages as employers compete for a limited pool of workers. Additionally, industries such as healthcare, construction, and hospitality often experience significant labor shortages, affecting their ability to operate efficiently and meet demand.