If Germany Has a Hole of 2.3 Million Workers in Its Labor Force, Does that Mean It Will Be Hard to Get Good Help?

It's hard to know what else it could possibly mean, but the Washington Post dutifully reported to readers:

"The aging population is shrinking here, with the 2011 census showing a loss of about 1.5 million people since the 1980s. As the decline accelerates, by 2030 the government predicts a hole as big as 2.3 million workers in the German labor force."

In a market economy, wages adjust to equilibrate supply and demand. If there are fewer workers in Germany it means that workers will...