Global Labor Market Outlook 2018: Finding Ways to Counteract Worker Shortages (Executive Summary)

As the global economy continues to strengthen and working-age population remains stagnant, tightening labor markets will become a growing concern in many major economies in 2018. By 2019, labor market tightness could reach levels not seen for decades, especially in the US, Japan, UK, and several countries in Central and Eastern Europe. With the large generation of baby boomers continuing to leave the labor force for 10 to 15 more years, labor shortages are likely to get worse before they get better, and they may become a drag on growth if governments and employers are not able to accelerate their capacity to produce.