paucity - PAW-sit-ee - shortage, insufficiency, lack, scarcity
Example: "With 14% unemployment in Michigan, the paucity of available jobs in one way or another has affected everyone in the state."
As a starter: and as a former teacher in English, I hope to add to reader's vocabulary by presenting a word a day in simple terms that anyone can understand - from current use in publications, radio,TV, etc. Remember: use a new word three times in a day and it's yours forever!