Global Labor Market: Demand and Skill Gaps

The McKinsey Global Institute (MGI) released a report in June 2012 analyzing the dramatic shifts in the global labor markets over the past several decades, causing blatant skill and wage gaps across the world. This report addressed the trends in advanced economies, with the creation of high-paying jobs for those workers who have attained high levels of education, and the stagnant wages and job losses for those workers with low educational attainment. Income trends within the United States are discussed, as well as predictions of labor market dynamics for the next two decades.