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Despite high unemployment, daily news of massive layoffs, and strong evidence of a jobless recovery (see WIT for Nov. 8, 2002), the founder and chairman of the world?s largest job and career database Monster, Jeff Taylor is convinced that extremely tight job markets and a severe ?human capital? shortage are in the offing. Mr. Taylor argues that---with 70 million workers in the Baby boomer generation set to retire over the next fifteen years, and only 40 million new workers entering the workforce to take their place---labor markets will become increasingly tight in coming years, particularly for highly skilled and educated workers. As unemployment levels drops so low as to make those of the late 1990?s look high by comparison, companies that cut employment and benefits too deeply in the current economic downturn will pay the price as employees jump ship for better jobs with more security, says Taylor.