Global labor markets are at a critical turning point, with significant structural changes underway that will create future labor shortages, inflation and headwinds to economic growth, according to PGIM in its report, The Transformation of Labor Markets: Winners and losers in a new era.
PGIM, the $1.2 trillion global investment management business of Prudential Financial.
PGIM identifies four forces underpinning structural change in labor markets:
Demographic trends reshaping global workforce: Notably the “dual aging” of companies and older, settled workers is dampening entrepreneurship and innovation, with the U.S., for