The Era of Unlimited Labor Supply Is Over
Home Depot’s $5.5 billion purchase of GMS Inc ., a Georgia-based distributor of wallboard and steel framing, might look like a standard corporate acquisition. It’s anything but. Combined with last year’s $18 billion acquisition of SRS Distribution, this deal marks a quiet but profound shift in the logic of American business strategy. Companies are no longer assuming that labor is abundant. They’re building for a future where it’s scarce—and expensive.
For decades, American businesses operated on the assumption that low-skilled labor was essentially limitless . If you couldn’t find enough workers, you…
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