With millions of new jobs being created each year, but not enough new births to match, the world is looking at global labour shortages in the next years. A new study by the Boston Consulting Group has done the maths!
In 2022 in the USA alone 4.5 million new jobs were created, but only 1.3 million new births registered! Indicating how things are likely to change.
Italy will see a shortage of 0.9 million
South Africa & USA to see surplus of 6.2 million - 9.2 million and 7.4 million respectively.
The report found: the labor supply is shrinking in Germany, Poland, Russia, and Japan—and will continue to shrink until 2020. From 2020 to 2030, workforce contraction will accelerate. Europe will be severely affected. And for the first time, South Korea and China will experience a decline. Everywhere else, the labor supply will still expand:
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