In The News

May 7, 2018
Saudi Crown Prince Muhammad bin Salman’s is implementing an economic restructuring plan to create more jobs for locals. “Finding jobs for young Saudis – around half of whom are unemployed – is critical for Prince Muhammad, who is the power behind the throne,” notes the Economist. Heretofore, the Saudi state has relied on cheap, foreign labor with about half of young Saudis unemployed. Saudi...
Lynne Doughtie April 26, 2018
To compete in a global and digital economy, workers cannot afford to stop educating themselves. Technological advancements like artificial intelligence disrupt economies, and businesses struggle to recruit skilled employees. “Part of the problem is that many workers are struggling to take advantage of the opportunities afforded by technological disruption,” explains Lynne Doughtie, CEO of KPMG,...
Ananya Bhattacharya February 23, 2018
Skilled workers applying for the US H1B visa will face more scrutiny. Applicants will be expected to fill specialty roles in a specialty occupation, explains US Citizenship and Immigration Services. “Previously, the adjudicating officers did not have to review third-party contracts or the exact dates and place of third-party work,” reports Ananya Bhattacharya for Quartz. Workers will be required...
Reiji Yoshida February 21, 2018
Japan, with a low fertility rate, has an aging population and must either rely on foreign workers or do without some services. The number of registered foreign workers has increased from less than 500,000 in 2008 to to 1.28 million in 2017, and Prime Minister Shinzo Abe's government makes plans for to allow more immigration. Cautious about abrupt cultural changes, he called for firm limits...
Kailash Satyarthi November 16, 2017
Child labor is wrong, unnecessary and especially vile when wealthy consumers turn a blind eye to indulge in low-cost goods and services. In 1997, global leaders expressed a deep commitment to ending child labor, explains advocate and Nobel laureate Kailash Satyarthi, but since then “the world has not even halved the number of children in the workforce.” He estimates that more than 150 million...
Craig Mellow October 30, 2017
Companies are relocating production to the developed nations like the United States, but hiring fewer workers. One case study suggests that a single US worker combined with investment in automation can replace seven Chinese workers. The trend has been in place for several years in both the United States and Europe. Craig Mellow, writing for Global Finance, points to four reasons: Labor costs are...
Adair Turner October 3, 2017
Too many leaders of emerging economies are counting on sizable numbers of young adults to become consumers and fuel growth. But technological advancements could contribute to high rates of unemployment. The term “demographic dividend” is misunderstood, explains Adair Turner for Project Syndicate. “The term was originally used to describe a transition in which countries enjoyed both a one-off...