Matthew Gates 3m 647 #workforce
The views of this article are the perspective of the author and may not be reflective of Confessions of the Professions.
Insight Into 2020: The Workforce
It is hard to imagine what life is going to be like is going to be like 10 years from now. It is hard to imagine what life would be like 5 years from now. It is even hard to imagine what your life would be like a year from now. For some of us, our lives could change dramatically and drastically within a day. You never know what is going to happen from day to day, and especially tomorrow.
For others, our lives do not seem to change much at all, or at least it may appear that way. For some of us, the days, weeks, months, and years fly by fast to the point where we are 10 years older and we do not know where the time went – either because we blocked it out or we were having the best time of our lives.
For others, the time may go slow as molasses and almost seem like it is at a standstill because we are miserable at home and at work, and just want all the stress to go away, but no matter how hard we try to block it out, it is right in front of our faces, and we must face it.
For the majority of us, however, life does go by pretty quickly. Before you know it, you are working to pay your bills or working to support your family. Regardless of what you are doing or what you are trying to accomplish, the world is constantly changing around you and so is the workforce.
This infographic looks into the dynamics of the shifting demographics of the ever-evolving workforce and workplace.
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39% of the United States workforce will be non-white by 2020
25% of the labor force will be age 55 and older by 2020
Of the 6.1 people in the world, 3.1 billion are working.*
80% of baby boomers will keep working past their current retirement age
31% of employees worldwide will find it difficult to fill positions because of talent shortages
Despite projected global population growth, the working-age population is expected to decline in many countries
About 10% of the United States workforce is someone who is LGBT
Women’s workforce population rate ranges from 30% in South America to 47% in the United States
70% of the net new entrants into the workforce are women, people of color, and immigrants
It is estimated that 1 in 4 people has a disability
Generation U (unretired) workers will fuel 93% of the growth in the United States labor market through 2016
The labor force is projected to increase by 10.5 million during 2010 – 2020
IN the European labor market the labor gap is expected to surge to 8.3 million by 2030
98% of recruiters use LinkedIn to find talent; 42% use Twitter; 33% use Facebook
For the first time in history there are four generations in the workforce with different needs and expectations
By 2016, it is estimated that 43% of the United States workforce will be comprised of telecommute workers.
By the end of this decade, other large economies such as Russia, Canada, South Korea, and China will also have more people at retirement age than are entering the workforce
Talent is becoming increasingly global/mobile with a 7% increase in mobility since 2006, with more people also expressing a willingness to move
Women’s civilian labor force participation in the United States is projected to increase by 9% by 2018
By 2014, women’s income will jump by $5 trillion
Women, an increasingly well-educated source of talent, have entered the workforce in even greater numbers than in recent decades; however, their talents are still often underutilized
Of the 131 million workers in the United States, 15% were born in another country
By 2030 more than 70 million baby boomers will have retired, leaving 35 million unfilled jobs
*Numbers may be different from when study came out
The workforce is changing
The workplace is changing
How will you manage?
Are you ready?