Summary of Evolution of Work and the Worker

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7

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Recommendation

In fewer than 40 pages, this valuable report offers a high-level overview of global workforce trends. It addresses topics more complex and nuanced than a brief paper really can digest properly, but it makes a noble effort. While the work unfortunately has numerous typos, its research pegs the major issues confronting workers, corporations, organizations and governments worldwide. getAbstract suggests this quick read to executives, policy makers, workers, educators and students seeking a solid, if surface-level understanding of global workforce trends.

About the Author

The Economist Intelligence Unit is a research and publishing firm specializing in global trends.

 

Summary

Worldwide Workforce Issues

The developed world’s workforce is aging, while in many developing regions, undereducated and increasingly frustrated young workers cannot find jobs. Worldwide, the demand for “highly skilled” and educated workers outpaces the supply, while those with “middle skills” find that technology is taking over their work or companies are outsourcing it to less-expensive workers overseas. Millions of jobs remain unfilled while millions of workers sit idle or use a fraction of their abilities. Worldwide, employer needs and worker skills are mismatched.

“Middle-skilled” jobs featuring “repetitive tasks” are increasingly succumbing to “automation” and “offshoring.” The services sector of the global economy must absorb these workers at lower pay and benefits. Workers face three choices: Join the low-paying service sector in which personal interaction defies automation, seek offshore jobs, or invest in becoming highly skilled and educated to gain access to jobs with high salaries and good benefits. Many workers cannot afford the cost of education or the accompanying debt – making that decision even more difficult.

Globally, firms vie for cheap...


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