Work

WHAT'S NEXT?: AI will replace 16% of jobs over the next decade. A billion people will enter the job market over the next ten years.

[New] By 2020, Millennials are forecasted to comprise half of the American workforce and by 2025-75 percent of the global workforce.
[New] The unemployment rate fell from 12% in 2015 to 6.3% in 2019, and the government estimates the public deficit will be close to zero in 2019 (compared to 4.4% of GDP in 2015), a first since Portugal became a democracy in 1974.
[New] On the assumption that the UK leaves the EU with a deal by the end of Q1 2020, EY ITEM Club expects employment growth to slow from 1.0% in 2019 to 0.6% in 2020.
[New] By 2030, ASEAN is expected to become the fourth-largest economy in the world, after the US, China and the European Union, and with the world's third largest labour force, after China and India.
[New] The U.S economy will add over 2 million jobs this year on top of the 4 million jobs created over the prior two years and wages are increasing faster than inflation.
[New] A recent OECD (Organization for Economic Co-operation and Development) report forecast that over the next 15 years about 14 percent of jobs will be eliminated, about 30 percent will be significantly transformed, and almost every other job will be transformed to some extent.
[New] The Morrison Government is investing $200 billion in the Australian defence industry, creating new jobs and delivering more opportunities for small business to export their capabilities overseas.
[New] 80 to 90 percent of jobs will be eliminated by the end of the next decade.
[New] Less than one third of businesses are confident that UK business will be able to access the digital skills they need in the next three to five years.
[New] 43% of adult employees in Europe report having recently experienced changes in the technologies they use at work, with 1 in 5 considering it likely that their skills will become outdated in the next five years.
[New] The UK 'Core Cities' have estimated the first wave of deals will create 175,000 jobs over the next 20 years and 37,000 new apprenticeships.
Manufacturing industry could experience employment bottlenecks, leading to a potential 2.4 million jobs in the US going unfilled by 2028, with US$454 billion at risk if qualified workers cannot be found to fill the open jobs.
The rate of decline in Germany's labor pool will accelerate between 2015 and 2020, and be a net drag on the German economy.
Tens of millions of young Nigerian people will need education and employment opportunities along with basic services like sanitation and clean water.
McKinsey Global Institute predicts a labor market shift that will result in a 1.2 percent increase in GDP growth over the next decade.
A World Economic Forum study has predicted that machines and algorithms in the workplace could add up to 58 million new jobs in the next few years.
BLS projects that US output will increase more during the 2018-28 decade than it did during the previous decade, while employment growth will be slower.
In Germany, the number of young people age 15-24 will fall by 25 percent, or about 2.5 million people by 2035; Japan's proportion of young people will decline by 25 percent or 3 million.
The United States is in a better position because its workforce is projected to increase during the next decade, but the US will still need to increase labor productivity to offset its slowly aging workforce.
In the next 20 years, China's median age will increase from 37 to nearly 46 and will continue to rise rapidly thereafter, as its workforce-age population actually declines.
231 US mayors ask Congress for solar tax credit extension: If the tax credit extension is passed, it could create 113,000 jobs and $87 billion in economic investment by 2030.

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Last updated: 10 November 2019