What If the Labour Shortage Was a Lie?
Posted on May 21, 2025 by John Fialkowski, One of Thousands of Career Coaches on Noomii.
We were told that when Boomers retired, opportunity would explode. Promotions, higher wages, a clear path forward. But… that didn’t happen.
By John Fialkowski, career coach and host of the podcast “Career Coaching with John.”
We were promised a wave of opportunity when the Boomers retired — a labour shortage that would unlock promotions, higher wages, and open doors.
Instead, we got gridlock.
This post — a follow-up to my recent podcast episode — explores how a misunderstood generational shift is freezing movement in the labour market. Not because people aren’t trying. But because wealth isn’t flowing, leadership isn’t transitioning, and the rules of opportunity don’t seem to apply anymore.
We were told that when Baby Boomers retired, the economy would open up. That a massive labour shortage would usher in higher wages, more promotions, and a clear runway for younger generations. What we got instead was something much murkier. In this post, I want to unpack how demographic forces — misunderstood rather than ignored — have created a freeze in our labour system. Not failure. Not chaos. Just gridlock.
Baby Boomers, Capital Preservation, and the Slowdown in Innovation
Baby Boomers are the wealthiest generation in Canadian history. They benefited from a postwar boom, accessible education, stable employment, and expansive government programs. And now, they’re retiring — not out of exhaustion, but on their terms. With their health. With their wealth. And with portfolios built for preservation, not propulsion.
Their investments — bonds, real estate, dividend stocks — are smart for the individual, but they don’t build new industries. They don’t create new jobs. And when capital stops moving, so does opportunity.
Meanwhile, the generation now entering peak earning years is Generation X — a smaller, less capitalized cohort. The result isn’t a smooth generational handoff; it’s a stalling-out of innovation. The economy is shifting into protection mode.
Millennials and the Myth of Upward Mobility
As an elder millennial, I’ll be honest — I’ve felt the weight of this personally. We were told the path was clear: work hard, get educated, and leadership would follow. Instead, we’ve been hit with recessions, precarity, pandemics, and price tags that outpace our pay.
We’re the most educated generation in history — but we hold more debt and fewer assets than our parents did. Risk-taking isn’t rewarded; it’s punished. And the traditional markers of success — homeownership, secure jobs, economic mobility — feel increasingly out of reach.
So we hesitate. We manage. We comply. And even when we step into leadership, it’s often into systems that don’t want real change — just younger faces executing older scripts.
Politics, Anger, and Generational Drift
This isn’t just an economic story. It’s political. In the recent Canadian election, youth voters leaned conservative, while older voters held the center-left. That inversion speaks volumes. People aren’t picking ideology — they’re picking emotion. Frustration. Anger.
And maybe that anger isn’t about who’s right. Maybe it’s about who’s missing. Who’s been sidelined. Who no longer believes the system was built for them in the first place.
A Career Coach’s Take on Generational Gridlock
So why does this matter in a career coaching context? Because understanding the environment you operate in is crucial. Your job search, your growth, your leadership — they don’t happen in a vacuum.
If you feel stuck, disillusioned, or invisible — it’s not because you’re failing. It’s because the system is frozen. The good news? Movement is still possible. But it has to be intentional. It has to come from you.
You don’t have to fix everything. You don’t have to carry the weight of the world. But you do get to decide how you respond. The generation before us may have built an individualistic world — but we can choose to be individuals who contribute rather than retreat.
If This Resonates
This post — like my podcast — isn’t meant to be the final word. It’s just meant to say: there’s a story here. One that might explain why you feel stuck. And one that just might help you move again.
If this made you think differently about your career — or your generation — consider sharing it. Let’s start telling better stories about work. And about ourselves.
John Fialkowski is a career coach, podcast host, and professional permission-giver. He helps people navigate career change, workplace confusion, and the strange realities of modern work. Learn more at johnfialkowski.com.
