What’s Wrong With Labor Markets?
There have never been so many highly educated people in the world, yet the crises in Europe, the slow recovery in the US, and the rise of emerging economies are revealing hidden flaws in labor markets worldwide. Addressing them will require a broad range of policy interventions.
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PHILADELPHIA – Around the world, labor markets are in disarray. Unemployment is high in many countries, especially among the young. At the same time, many companies report having trouble finding qualified workers. Record numbers of people are going into retirement, but many would prefer to work, at least part-time. Information technology has displaced workers even as it has created new jobs.