Skill shortages aren't down to the lowest demographics, whatever that means.
We're talking decades of untrammelled immigration, deliberate underinvestment and axing of development programmes etc - it's extremely complex. No doubt there's generational unemployment, which is completely different and also very complex and requires different thinking.
To argue otherwise is simply ignoring facts, and generally the domain of the lazy right.
Here's an idea for improving productivity (also, what does that mean as well, really?). Four day weeks, getting paid for 5 and on the basis of being allowed that time honouring an 8 hour productive day whereever you work, for fair and equitable recompense.