Global Talent Market Quarterly - Q1 2018
The global economic outlook for 2018 is rosy, driven by broad-based strength particularly in the US, Eurozone, and APAC. Global GDP growth is forecast to accelerate to 3.4%―its best performance since 2010. Healthy economies continue to create jobs at a robust pace, helping to push unemployment rates even lower and heighten the demand for skilled talent.
Helping to stem the skills shortage is the growing number of older employees in workforces across the globe: more than a quarter of people ages 65 to 69 and 15% of people ages 70 to 74 in developed countries are still working. A recent study found that only a third of people said that they plan to immediately stop working altogether once they reach retirement age; the majority envision that they will continue to perform some type of work in their golden years.
While arguably the hottest buzzword within the industry these days is artificial intelligence, another technology may create just as much disruption—or even more. Blockchain, the technology underlying cryptocurrencies such as bitcoin, has the potential to change the way business is conducted across multiple industries (including workforce solutions) by providing a transparent, decentralized, and fraud-resistant way of conducting transactions.
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