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] The new Millennial Work-force is already close to half of the work-force in major nations of the world and will be the majority beyond 2020.
[New] Idaho's low unemployment rate is projected to rise to an average of 3.2 percent through calendar year 2019 and increase slightly to 3.5 percent into 2020.
[New] 30% of jobs around the world are at risk of automation by the mid-2030s, including 44% of workers with low education.
[New] The nature of employment and work are likely to continue to change with ongoing disruption to existing business models and creation of new markets from global mobility of workers and new technologies.
[New] With the unemployment rate in South Africa edging up to 29.1 percent in Q3 2019, its highest level since comparable data began in Q1 2008, key jobs sectors including mining and the industrial sector are expected to continue shedding jobs at unprecedented rates in 2020.
[New] The number of US 16 - to 24-year - olds in the labor force is expected to drop by 1.2 million by 2028.
[New] 47 percent of a retail salesperson's activities could be automated, and The British Retail Consortium predicts that over the next 20 years, 60 percent of jobs in retail will be at risk due to automation.
[New] New Zealand's unemployment rate is low at 4.2 per cent, our economy is predicted to add 43,600 jobs in 2020, and our GDP is growing at a faster rate than other OECD nations, including Australia, Canada, the USA and European countries.
[New] More than 16 million American workers are contingent and earn money from freelance gigs in some capacity, that by 2022 more than 42.5% of the global workforce will be mobile workers and the staff augmentation market is valued in excess of $45 billion.
[New] The desire to tax robots will not benefit workers, and will hamper productivity growth.
The driver assistance system and automated vehicles market value would be EUR 8.8 billion and shall generate 130,000 jobs by 2025 in Germany.
Two of the fastest growing jobs in the next decade will home health aides and personal care aides - jobs that pay less than $25,000 a year.
The aging of the population could be contributing to the well-documented reduction in dynamism in the US economy as measured by lower productivity growth and reduced labor market fluidity.
Commentators predict a blurring of the line between retail and business banking thanks to the gig economy, which the Bureau of Labour Statistics estimates to account for more than 35% of the US workforce and predicts to rise to 43% in 2020.
The fact that 600 million jobs will be needed by 2030 to absorb the growing global workforce makes nurturing an SME ecosystem a priority for governments around the world.
Around 200,000 banking jobs in the U.S. will be lost over the next decade due to the introduction of new technologies including AI.
The number of 65 - to 74-year - olds in the US labor force is projected to rise by 4.2 million during the next decade, and the number of workers age 75 and older is expected to increase by 1.9 million.
BLS expects there to be only 5.1 million US teenagers in the labor force in 2028, which would be the fewest number of teenagers in the labor force since 1963.
Average annual growth in the U.S. labor-force growth is expected to average 0.5% a year over the next decade.
The U.S. economy is expected to expand at a more moderate pace over the next decade, due in large part to slower growth of the population and labor force.
North American insurers could save up to $44 billion through 2025 using technology to automate jobs or assist employees.
By 2030, talent and investment in the U.S. will be concentrated in a few regions - with 60% of job growth coming from just 25 hubs.

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Last updated: 19 January 2020