Source: Fortune
Summary
The US workforce is facing a generational mismatch, with older workers making up a larger share of the workforce and younger generations not filling the gap. Indeed’s chief economist, Svenja Gudell, warns that this mismatch will cause “a little bit of pain” as workers are reallocated to different roles. The issue is not unique to the US, with many industrialized countries facing similar challenges. By 2031, workers 55 and up will make up over 25% of the workforce in the G7 countries, up from 15% in 2011.
Our Reading
The numbers tell one story.
Indeed’s Svenja Gudell and PepsiCo’s Becky Schmitt agree that the labor force is facing a significant challenge. The growing number of older workers and the reluctance of younger generations to take on certain roles are creating a supply gap in industries like skilled trades, manufacturing, and healthcare. The mismatch is not just about numbers, but also about the changing career ambitions of younger workers.
The generational imbalance is straining the workforce, and companies are looking for ways to address the issue, including automating certain jobs. The problem is not just an American issue, but a global one, with many countries facing similar challenges.
The workforce is entering a new phase of great mismatch, and it’s not just about AI.
Author: Evan Null
