Throughout President Donald Trump‘s second, nonconsecutive term, pundits across the political spectrum have warned that the economy is on the cusp of mass job losses. They have cited everything from the demonstrable downward pressure on the labor market from tariffs to Trump’s orders for the Federal Reserve, an independent body, to immediately slash the federal funds rate.

But as the nation hits a dangerous economic inflection point, its long-predicted future demographic crisis will not be that we have too many people for too few jobs, as is often warned about. But rather too few people will be available to work at all.