A Closer Look

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Gen Z – Managing them

Millennials are no longer the new kids on the block. The oldest members of this often-analyzed, and sometimes fretted about, generation of workers are now in their mid-30s, and have successfully integrated into the workforce. But just as we’ve all learned to work together, there’s a new generation coming of age. Meet Generation Z — … Continue reading

Deindustrialisation in US – Just 35% know that manufacturing output has risen

Manufacturing jobs in the United States have declined considerably over the past several decades, even as manufacturing output – the value of goods and products manufactured in the U.S. – has grown strongly. But while most Americans are aware of the decline in employment, relatively few know about the increase in output, according to a … Continue reading

The Future of Work – What automation will change

Technology experts and economists are engaged in a growing debate about the effect of automation technologies in the workplace. Some “techno-pessimists” are concerned about the mass destruction of jobs, while “techno-optimists” see considerable productivity gains for the economy that will in turn help create new work opportunities. Technology in the past has tended to create … Continue reading

The Future of Work – The skills that will count

For young people today, what’s clear is that they’re going to need to continue to learn throughout their lifetime. The idea that you get an education when you’re young and then you stop and you go and work for 40 or 50 years with that educational training and that’s it—that’s over. All of us are … Continue reading

Mapping Digital Momentum Around the World – 60 Countries’ Digital Competitiveness Index

Digital technologies are poised to change the future of work. Automation, big data, and artificial intelligence enabled by the application of digital technologies could affect 50% of the world economy. There is both anticipation and apprehension about what lies on the other side of the threshold of the “second machine age.” More than 1 billion jobs … Continue reading

Economists – Machine learning can help do their jobs better

Harvard’s Sendhil Mullainathan is one of a small number of economists who has delved into the world of machine learning, the subfield of computer science concerned with using algorithms to learn from data. His research, along with the work of Stanford’s Susan Athey, suggests that while machine learning may not revolutionize economics, it will greatly … Continue reading

Direct Care Workers – The poor are taking care of the poor

A salary of $20,000 for a personal care aide or home health aide is typical, with 90 percent of workers making under $30,000. “A lot of people who look from the outside in think we’re just glorified babysitters, but we’re not,” Brittany Hampton, 31, said. She makes around $800 a month in Washington state near … Continue reading

Higher Education in US – Eight economic facts

The higher education sector itself is an important piece of the U.S. economy. In the fall of 2013, institutions of higher education that participated in Title IV federal financial aid programs employed almost 4 million people. The higher education sector also confers a large advantage to the United States in the global market for talent. … Continue reading

Out-of-Work in US – 11.3 million individuals

Of the combined unemployed and not-in-the-labor-force populations, our goal is to identify those most likely to be interested in or benefit from workforce development assistance. Therefore, we subtracted the following groups: people receiving retirement and disability benefits, most students, and our best estimate of people who choose to be stay-at-home parents with sufficient earnings from … Continue reading

Many activities that workers carry out today have the potential to be automated

Technological change has reshaped the workplace continually over the past two centuries since the Industrial Revolution, but the speed with which automation technologies are developing today, and the scale at which they could disrupt the world of work, are largely without precedent. MGI research on the automation potential of the global economy, focusing on 46 … Continue reading

Reskilling displaced workers – Don’t focus exclusively on traditional jobs

We’re not taking advantage of the full potential of “reskilling” workers. Conversations and solutions around job displacement are often limited for two reasons: 1) They focus exclusively on traditional jobs rather than “deconstructed” work; and 2) They focus on regional partnerships, rather than considering the global work ecosystem. Important solutions require seeing beyond “jobs” and … Continue reading

Youth Unemployment in Canada – Always higher

However, participation rates are only one part of young people’s experience of the labour market. A second major factor is whether youth are able to find employment once they enter the workforce. The youth unemployment rate varied widely from 1946 to 2015. Relatively low until the mid-1950s, it climbed 5.9 percentage points from 1956 to … Continue reading

Big Data – It will challenge white-collar, professional knowledge work in the 21st century

“Big data and algorithms are going to challenge white-collar, professional knowledge work in the 21st century in the same way that factory automation and the assembly line challenged blue-collar labor in the 20th century.”

Skills and transition in Financial Services

[One of the transition in financial services] concerns the talent base and the kind of skills and capabilities needed. Historically, insurers have focused on backward-looking data, on actuarial science, on estimating future risk from past performance. If motor vehicles undergo massive change so that they don’t drive the same way and accidents are automatically prevented, … Continue reading

Millennials in US – The share of college-educated young adults in today’s workforce is higher than ever before

As U.S. college graduates earn their bachelor’s degrees and enter the job market this month, data from the Census Bureau show that the share of college-educated young adults in today’s workforce is higher than ever before. Four-in-ten Millennial workers ages 25 to 29 had at least a bachelor’s degree in 2016, according to a Pew … Continue reading

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