The nursing profession has been in continuous shortage. As these clips show, the shortage is not a recent phenomenon. Indeed, the economics literature has characterized the nurse labor market as "monopsonistic" for decades. (In a monopsonistic situation, wages and conditions are held below market clearing levels so that there are always excess vacancies at the prevailing wage.) Part 1 of 2 parts has clips from 1981 and 1987. Part 2 has clips from 1993, 2000, and 2005.
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