noun
labor shortage; manpower shortage
Refers to a lack of available workers in an industry, region, or economy.
建設業界は深刻な労働力不足に直面している。
The construction industry is facing a serious labor shortage.
労働力不足を補うために外国人労働者を受け入れる企業が増えている。
More companies are accepting foreign workers to make up for the labor shortage.
人手不足 is a more general term for 'shortage of hands' or 'understaffing', often used in everyday contexts. 労働力不足 is more formal and economic, emphasizing the workforce as a factor of production.
Compound of 労働力 (labor power, workforce) and 不足 (shortage, insufficiency).