In the wake of the financial crisis, many people struggled to find work. In 2010, there were roughly 24 million excess workers. Today, job vacancies nearly match the number of seekers. Companies and economies will need to boost productivity and find new ways to expand the workforce. Actions include: enlist AI and automation, increase retraining programs, and encourage older workers to work longer. Grow the supply-side pie ➡️ mck.co/laborshortages
McKinsey Global Institute
Think Tanks
Washington, DC 93,641 followers
We provide a fact base to aid decision making on the economic and business issues most critical to the world.
About us
We provide a fact base to aid decision making on the economic and business issues most critical to the world’s companies and policy leaders.
- Website
-
http://www.mckinsey.com/mgi/
External link for McKinsey Global Institute
- Industry
- Think Tanks
- Company size
- 10,001+ employees
- Headquarters
- Washington, DC
- Founded
- 1990
Updates
-
Executives’ views on the world economy remain more positive than negative, though they believe a recession is increasingly likely. In their own economies, concerns over unemployment are growing. More on the latest economic conditions outlook➡️ https://mck.co/4eTqaPC
-
-
Why is #productivity important? How is the world economy doing on productivity? How could AI be a gamechanger for it? Leading economist Chad Syverson from The University of Chicago Booth School of Business breaks down the “Holy Grail” for economists: productivity. https://lnkd.in/gg-AZhf7
-
-
Micro-, small-, and medium-size enterprises in Kenya account for 96% of employment and 60% of value added. But they struggle with productivity—only 6% as productive as large companies in Kenya. What can be done to close this gap? 🔎 Explore the data set: https://mck.co/3VRk2i4
-
Labor productivity over the past 25 years has been a success story for some, a tale of stagnation for others. MGI directors Chris Bradley and Olivia White join The McKinsey Podcast to discuss what’s behind reduced productivity numbers, what can be done to boost productivity, and more. https://mck.co/4eQvFyK
-
Investment is the simplest way to gauge Europe’s competitiveness—and the region’s investment pulse is low. In fact, after the global financial crisis, net investment fell precipitously, and it remains down €550 billion a year. What can be done to boost investment and competitiveness? mck.co/europeinvestment
-
-
McKinsey Global Institute reposted this
Large European firms invest €700 billion less than their US counterparts, with just ten US companies making up 19% of total investment by larger firms in the US and Europe. New McKinsey Global Institute research examines what Europe can do to encourage investment and boost competitiveness ➡️ mck.co/europeinvestment
-
-
Labor market tightness remains a significant challenge in advanced economies, even after some loosening since 2022 peaks. This trend isn't just a pandemic effect but part of a long-term shift since 2010. With aging workforces and slowing population growth, advanced economies face future challenges. Without boosting productivity or increasing workforce participation, sustaining past economic growth rates will be challenging. To combat labor shortages, businesses will need to adopt new technologies, retrain workers, and expand hiring pools. New MGI research explores labor market trends in 30 advanced countries with particular focus on the eight largest: Australia, Canada, France, Germany, Italy, Japan, the UK, and the US. Read here: mck.co/laborshortages
-
-
Labor markets in advanced economies are tighter than they have been in decades—and the trend is set to continue. What does that mean for businesses and workers? Explore labor market trends across 30 advanced economies: mck.co/laborshortages
-
-
Europe has a strong record on sustainability and inclusion. But in a new geo-economic era, Europe faces new pressures on its competitiveness in seven key dimensions: innovation, energy, supply chains, capital, talent, size, and competition and markets. Left unaddressed, €500 billion to €1 trillion of European value added could be at stake annually by 2030. Learn how to boost competitiveness ▶️ mck.co/AcceleratingEurope
-