This report delivers valuable insights about global labor market trends.

1. Global Talent Market Quarterly
THIRD QUARTER l 2012

2. Global Talent Market Quarterly
CONTENTS
3 Global Economic Situation
• Briefing
• Outlook
6 Global Labor Market Update
• Americas
• EMEA
• APAC
• Global Labor Market Spotlight
• Legislative Update
12 U.S. Labor Market Overview
• Current Employment Conditions
• Supply and Demand
• Labor Market Spotlight
16 Workforce Solutions Industry Insight
• Global Labor Supply and Demad Forecasts
• Talent Challenges in Rapid Growth Markets
• Social Media: Business or Pleasure?
• Kelly Knowledge

3. Global Economic Situation
THIRD QUARTER l 2012

4. Global Talent Market Quarterly
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TABLE OF CONTENTS
GLOBAL
ECONOMIC
BRIEFING
The
global
economy
has
hit
a
soS
patch
in
2012,
as
contrac?on
in
several
European
markets
and
slowing
in
India
and
China
is
leading
to
muted
economic
ac?vity
worldwide.
Emerging
markets
and
the
APAC
region
con?nue
to
lead
the
growth
trend,
despite
some
weakness.
AMERICAS
EMEA
APAC
The
global
economic
slowdown
is
expected
to
The
Eurozone
crisis
con?nues
to
drag
down
Low
export
demand
and
cooling
growth
in
cause
sluggish
growth
across
the
Americas
economic
growth
across
most
of
the
region.
China
and
India
have
soSened
the
APAC
region
through
2013.
Stronger
economic
Gradual
recovery
is
expected
to
begin
in
2013.
outlook
for
2012-­‐2013,
but
healthy
domes?c
ac?vity
is
forecast
to
resume
in
2014.
demand
is
helping
to
prop
up
many
markets.
Eurozone
Canada
Economic
growth
in
many
Eurozone
countries
is
Japan
Modest
growth
of
around
2%
is
predicted
to
barely
posi:ve,
while
markets
including
Italy,
Economic
growth
was
surprisingly
strong
in
the
con:nue
through
2013.
Strength
in
the
natural
the
Netherlands
and
Spain
are
sinking
into
first
part
of
2012,
thanks
to
healthy
household
resources
sectors
is
being
tempered
by
recession.
Improvements
are
expected
in
2013,
spending
and
con:nued
recovery
efforts.
government
austerity
measures
and
consumer
but
significant
growth
will
hold
off
un:l
2014.
Growth
is
expected
to
remain
moderate
and
business
cau:on
in
the
face
of
uncertain
throughout
the
rest
of
the
year
and
in
2013.
global
economic
condi:ons.
U.K.
GDP
growth
is
expected
to
resume
in
the
U.K.
in
China
U.S.
the
second
half
of
2012
aZer
three
quarters
of
Second
quarter
growth
decelerated
to
7.6%,
The
U.S.
economy
con:nues
to
expand
at
a
contrac:on.
The
economy
is
expected
to
the
lowest
rate
in
nearly
three
years.
S:mulus
modest
pace,
with
2%
growth
projected
con:nue
to
recover
gradually
in
2013
and
efforts
are
expected
to
revive
the
economy
in
through
2013.
Future
gains
depend
on
both
2014,
in
step
with
the
rest
of
Western
Europe.
the
second
half,
but
a
return
to
sustained
long-­‐
term
growth
will
require
structural
reforms.
the
health
of
the
global
economy
and
policy
Central
and
Eastern
Europe
measures
following
the
2012
elec:on.
India
Reduced
demand
from
Western
Europe
will
La?n
America
con:nue
to
dampen
economic
performance
The
economy
has
lost
some
momentum
due
to
Economic
ac:vity
in
the
region
con:nues
to
through
2013,
but
growth
in
many
of
the
weak
global
demand
and
domes:c
policy
cool
in
2012,
with
the
slowdown
felt
most
region’s
larger
markets
including
Russia,
Turkey
issues,
but
growth
is
projected
to
accelerate
in
heavily
among
export-­‐dependent
countries.
and
Poland
is
expected
to
remain
healthy.
2013
and
strengthen
further
in
2014.
Although
growth
is
expected
to
accelerate
Australia
Middle
East
and
North
Africa
again
in
2013
and
beyond,
policy
adjustments
Australia’s
economy
remains
strong
in
the
face
Despite
ongoing
poli:cal
tensions,
economic
will
also
be
necessary
to
create
and
sustain
of
the
cooler
global
climate,
with
a
sound
momentum
should
accelerate
in
the
region
in
more
robust
growth
levels.
outlook
supported
by
con:nued
growth
in
the
2012-­‐13
as
many
countries
con:nue
to
develop
and
implement
policies
that
foster
growth.
mining
and
natural
resources
sectors.
4
Sources:
IHS
Global
Insight
reports
(July
2012);
Wall
Street
Journal,
07.13.12
and
07.18.12;
Reuters,
05.22.12
and
07.18.12

5. Global Talent Market Quarterly
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TABLE OF CONTENTS
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6. Global Labor Market Update
THIRD QUARTER l 2012

7. Global Talent Market Quarterly
BACK TO
TABLE OF CONTENTS
GLOBAL
LABOR
MARKET
UPDATE:
AMERICAS
Posi?ve
employment
trends
con?nue
across
the
Americas
region,
although
the
U.S.
and
Canada
have
seen
some
cooling
in
2012
as
a
result
of
the
global
economic
slowdown.
Cau?ous
hiring
is
expected
to
con?nue
across
most
of
the
region,
leading
to
lower
unemployment
levels
in
the
coming
years.
UNITED
STATES
BRAZIL
CANADA
MEXICO
Robust
job
crea:on
in
the
first
Despite
more
moderate
recent
Canada’s
labor
market
outlook
is
The
official
unemployment
rate
quarter
of
2012
was
replaced
by
economic
growth,
employment
broadly
posi:ve,
as
vacancy
and
in
Mexico
remains
in
the
more
subdued
hiring
in
the
con:nues
to
trend
upwards
and
wage
data
suggest
that
demand
4.5%-­‐5%
range—low
by
regional
second
as
the
labor
market
unemployment
rates
con:nue
to
for
labor
is
healthy.
Fihul
hiring
standards
but
s:ll
higher
than
its
began
to
react
to
the
cooler
fall
in
Brazil
in
2012,
a
sign
that
trends
in
the
first
part
of
2012
pre-­‐recession
level
of
3.5%-­‐4%.
global
economy.
Stronger
ac:vity
employers
remain
confident
and
indicate
that
employers
remain
Gradual
improvement
is
is
expected
in
2013
and
2014
as
are
preparing
for
the
eventual
somewhat
cau:ous
in
light
of
the
expected
as
the
economy
uncertain:es
subside.
economic
upturn.
global
economic
situa:on.
con:nues
to
add
formal
jobs.
Average
Annual
Unemployment
Rate
10%
8%
8.1%
7.8%
7.2%
7.3%
2012
(p)
6%
6.8%
6.5%
5.7%
5.6%
2013
(p)
5.3%
4%
4.8%
4.6%
4.3%
2014
(p)
2%
0%
U.S.
Brazil
Canada
Mexico
Sources:
IHS
Global
Insight
reports
(July
2012);
Reuters,
05.21.12,
06.20.12
and
07.06.12
7

8. Global Talent Market Quarterly
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TABLE OF CONTENTS
GLOBAL
LABOR
MARKET
UPDATE:
EMEA
Weakness
stemming
from
the
European
fiscal
crisis
is
keeping
worker
demand
low
and
unemployment
high
across
much
of
the
region,
with
significant
improvements
not
expected
un?l
2014.
Despite
the
uncertain
economic
situa?on,
labor
markets
con?nue
to
perform
well
in
some
countries,
including
Germany,
Russia,
and
the
U.K.
GERMANY
FRANCE
UNITED
KINGDOM
RUSSIA
Job
growth
in
Germany
remains
The
labor
market
con:nues
to
Despite
the
economic
climate,
Unemployment
in
Russia
rela:vely
healthy
in
the
face
of
deteriorate,
with
unemployment
unemployment
has
remained
in
con:nues
to
steadily
decline
as
soZer
economic
condi:ons.
The
in
mid-­‐2012
at
its
highest
level
in
check
in
2012
due
to
increases
in
the
economy
remains
resilient.
country’s
steady
decline
in
more
than
a
decade.
The
new
self-­‐employment
and
part-­‐:me
The
lowest
unemployment
rates
unemployment
has
lost
some
government
is
considering
work,
and
job
crea:on
driven
by
are
seen
in
the
regions
around
momentum
in
2012,
but
is
stricter
legisla:on
surrounding
the
Olympics.
Real
improvements
Moscow
and
St.
Petersburg.
expected
to
resume
its
layoffs
to
help
curb
the
rising
in
the
labor
market
are
not
downward
trend
in
2013.
joblessness.
expected
un:l
2014.
ITALY
Demand
for
workers
is
expected
to
remain
weak
throughout
2012
Average
Annual
Unemployment
Rate
and
2013.
Austerity
plans
have
cut
employment
in
the
public
sector,
and
private
employers
10%
are
hesitant
to
add
jobs
in
the
9.8%
9.8%
10.0%
9.7%
9.9%
9.3%
midst
of
a
declining
economy.
8%
8.5%
8.7%
8.4%
2012
(p)
6%
6.8%
6.6%
6.2%
5.7%
5.4%
2013
(p)
5.2%
4%
2014
(p)
2%
0%
Germany
France
U.K.
Russia
Italy
Sources:
IHS
Global
Insight
reports
(July
2012);
Reuters,
06.28.12;
Reuters,
06.07.12;
BusinessWeek,
07.18.12;
Moscow
Times,
07.23.12;
Agence
France
Presse,
07.02.12
8

9. Global Talent Market Quarterly
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TABLE OF CONTENTS
GLOBAL
LABOR
MARKET
UPDATE:
APAC
Many
APAC
labor
markets
are
showing
some
signs
of
soSness
in
2012,
par?cularly
in
manufacturing
sectors
as
the
region
grapples
with
slowing
export
demand.
However,
healthy
domes?c
demand
and
ongoing
recovery
efforts
are
helping
to
boost
employment
levels
across
the
region,
and
the
labor
market
outlook
for
2013
and
2014
is
posi?ve.
JAPAN
CHINA
INDIA
AUSTRALIA
Employment
growth
and
job
The
labor
market
in
China
is
Employment
growth
in
India
has
Labor
market
performance
is
crea:on
trends
are
posi:ve,
as
the
showing
some
signs
of
weakness.
moderated
somewhat
due
to
healthy
but
uneven
as
global
economy
con:nues
to
recover
Indicators
suggest
that
hiring
is
soZer
economic
condi:ons
both
uncertainty
and
the
strong
following
the
2011
natural
slowing,
and
job
cuts
may
be
at
home
and
globally.
Hiring
currency
constrain
employers’
disasters
and
ongoing
rebuilding
spreading
in
manufacturing
and
inten:ons
are
strongest
in
the
hiring
sen:ments.
The
market
is
efforts
encourage
employers
to
heavy
industry,
amid
more
construc:on
industry
and
the
expected
to
con:nue
along
an
take
on
more
workers.
modest
demand
trends
and
a
service
sector,
par:cularly
retail,
unsteady
path,
with
modest
cooling
economic
climate.
sales
and
healthcare.
employment
gains
offset
by
higher
labor
force
par:cipa:on.
Average
Annual
Unemployment
Rate
10%
9.3%
9.1%
8%
9.0%
2012
(p)
6%
2013
(p)
5.2%
5.1%
4%
4.8%
4.7%
4.6%
4.7%
2014
(p)
4.2%
4.1%
4.0%
2%
0%
Japan
China
India
Australia
Sources:
IHS
Global
Insight
reports
(July
2012);
HSBC
06.07.12
and
07.12.12;
India
Times,
07.23.12;
Indian
Express,
07.23.12;
Financial
Times,
07.11.12;
Reuters,
05.28.12
and
06.28.12
9
9

10. Global Talent Market Quarterly
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TABLE OF CONTENTS
GLOBAL
LABOR
MARKET
SPOTLIGHT:
AGING
WORKFORCE
organiza?ons
try
to
envision
and
plan
for
the
labor
market
of
the
future,
aging
workforces
are
a
key
considera?on
in
many
countries.
An
As
increasingly
older
labor
force
will
bring
unique
challenges,
including
filling
skills
gaps
and
addressing
re?rement
issues.
NEARLY
A
QUARTER
OF
GLOBAL
WORKERS
WILL
BE
AGE
55+
BY
2030
The
aging
trend
will
be
most
acutely
felt
in
the
advanced
economies
and
China.
In
the
Net
New
Re?rees
per
New
Worker,
2010-­‐2030E*
advanced
economies,
the
share
of
older
workers
in
the
labor
force
will
grow
from
18%
in
2010
to
27%
in
2030.
In
the
most
rapidly
aging
advanced
economies
such
as
Japan
and
2
Germany,
more
than
30%
of
the
labor
force
will
be
55+
in
2030.
In
China,
the
propor:on
of
older
workers
is
expected
to
more
than
double
in
the
next
two
decades.
Even
in
La:n
1.5
America,
which
has
a
rela:vely
young
popula:on,
aging
will
slow
labor
force
growth.
AGING
TREND
WILL
CAUSE
FUTURE
LABOR
FORCE
CHALLENGES
1
The
number
of
re:rees
in
the
world
is
expected
to
grow
by
2.3%
per
year
over
the
next
two
0.5
decades,
more
than
twice
the
annual
labor
force
growth
rate,
leading
to
a
number
of
issues.
Skills
shortages
are
expected
to
intensify
as
educated
workers
re:re.
The
growing
number
of
0
re:rees
will
lead
to
greater
demand
for
social
and
healthcare
services.
And
economies
will
Advanced
China
Other
India
need
to
boost
produc:vity
in
order
to
sustain
growth
rates
with
smaller
labor
forces.
Boos:ng
Economies
Emerging
labor
force
par:cipa:on
rates
of
older
workers
is
one
way
to
help
solve
these
challenges.
Markets
Labor
Force
%
GLOBAL
ADVANCED
ECONOMIES
CHINA
by
Age
10%
14%
8%
22%
13%
18%
15%
27%
Older
(55+)
31%
Prime
(25-­‐54)
Young
(15-­‐24)
60%
62%
65%
69%
70%
64%
72%
68%
62%
28%
22%
32%
16%
12%
10%
13%
11%
6%
1980
2010
2030E
1980
2010
2030E
1980
2010
2030E
Source:
:
The
World
at
Work:
Jobs,
Pay,
and
Skills
for
3.5
Billion
People,
McKinsey
Global
Ins:tute,
2012
*Re:rees
are
defined
as
workers
between
55-­‐70
years
old
who
are
not
likely
to
be
in
the
labor
force
in
2030.
Advanced
Economies
are
those
with
10
GDP
Per
Capita
above
$20,000
(USD
at
2005
PPP).
Other
Emerging
Markets
are
those
with
GDP
Per
Capita
between
$3,000
and
$20,000
including
na:ons
in
Asia
(Philippines,
Indonesia,
Thailand,
Malaysia,
etc.),
La:n
America
(Brazil,
Mexico,
Argen:na,
Peru,
etc.),
the
Middle
East
and
Africa.

11. Global Talent Market Quarterly
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GLOBAL
LEGISLATIVE
UPDATE
Several
countries
have
implemented
or
are
considering
changes
to
their
regula?ons
on
temporary
and
contract
workers,
including
Norway,
which
will
bring
its
prac?ces
in
line
with
the
EU’s
Agency
Worker
Direc?ve.
New
and
pending
labor
legisla?on
in
Venezuela,
Saudi
Arabia,
and
Canada
aims
to
increase
labor
force
par?cipa?on,
while
the
new
lower
re?rement
age
in
France
defies
that
trend.
NORWAY
CANADA
Although
not
a
member
of
the
New
regula:ons
expected
to
take
effect
AUSTRIA,
BELGIUM
European
Union,
Norway
will
in
early
2013
will
require
workers
New
legisla:on
requires
employers
to
ensure
implement
the
EU’s
Agency
Worker
equal
treatment
of
temporary
workers.
In
receiving
unemployment
benefits
to
be
Direc:ve
in
2013,
ensuring
the
willing
to
accept
available
jobs
that
are
Belgium,
liZing
restric:ons
on
the
use
of
equal
protec:on
and
treatment
of
lower
paying,
outside
their
field,
or
are
temporary
workers,
par:cularly
in
the
public
temporary
workers.
located
farther
away.
sector,
is
being
reviewed.
FRANCE
SINGAPORE
The
new
French
government
lowered
the
The
Employment
Act
will
be
U.S.
re:rement
age
from
62
to
60
for
workers
with
more
reviewed
in
the
second
half
of
The
Supreme
Court
upheld
the
health
than
40
years
of
social
security
contribu:ons.
The
2012,
with
expected
revisions
to
care
reform
act,
paving
the
way
for
the
move
is
contrary
to
many
other
developed
countries
address
working
condi:ons
and
implementa:on
of
both
the
individual
that
are
increasing
re:rement
ages
in
the
face
of
pay
for
low
wage
employees
and
and
employer
mandates
for
health
care
demographic
and
fiscal
challenges.
contract
workers.
insurance
provision
in
2014.
SAUDI
ARABIA
MALAYSIA
VENEZUELA
Pending
legisla:on
would
A
minimum
wage
law
will
take
The
country’s
new
labor
law
includes
shorten
the
workweek
in
effect
in
Malaysia
for
the
first
provisions
to
eliminate
the
prac:ce
of
the
private
sector
in
order
:me
as
of
January
2013,
and
will
outsourcing,
reduce
working
hours
from
44
to
force
companies
to
likely
be
phased
in
over
the
next
to
40
hours
a
week,
lengthen
maternity
expand
their
workforces.
two
years.
The
minimum
wage
leaves,
and
make
layoffs
more
difficult.
level
is
expected
to
be
modest
and
vary
across
the
country.
Sources:
Global
Insight
06.14.12,
06.07.12;
Reuters,
05.24.12;
SIA
Daily
News,
05.30.12,
06.28.12,
07.17.12;
HRM
Asia
05.28.12;
VenezuelaAnalysis,
05.01.12;
Global
Market
Brief
&
Labor
Risk
Index
Q3
2012,
KellyOCG/Eurasia;
SIA
Legs
and
Regs
Advisor,
April
2012
11

12. U.S. Labor Market Overview
THIRD QUARTER l 2012

13. Global Talent Market Quarterly
BACK TO
TABLE OF CONTENTS
U.S.
EMPLOYMENT
CONDITIONS
SECOND
QUARTER
HIRING
DECELERATES
U.S.
MONTHLY
EMPLOYMENT
CHANGE
AND
UNEMPLOYMENT
RATE
The
U.S.
job
market
hit
a
soZ
patch
in
the
Unemployment
Rate
(%)
second
quarter
of
2012,
adding
to
concerns
that
Employment
(000’s)
600
11
the
broader
economic
slowdown
has
now
300
10
started
to
affect
U.S.
hiring.
Employment
gains
9
averaged
only
75,000
a
month
in
the
second
0
8
quarter,
three
:mes
slower
than
the
rate
of
job
-­‐300
7
crea:on
in
the
first
three
months
of
the
year.
-­‐600
6
UNEMPLOYMENT
RATE
STAGNANT
-­‐900
5
Jun-­‐09
Mar-­‐10
Jun-­‐10
Mar-­‐11
Jun-­‐11
Mar-­‐12
Jun-­‐12
Dec-­‐09
Dec-­‐10
Dec-­‐11
Sep-­‐09
Sep-­‐10
Sep-­‐11
The
unemployment
rate
remained
at
8.2%
in
June
2012.
Although
lower
than
the
above-­‐9%
rates
seen
in
much
of
2011,
unemployment
has
shown
litle
improvement
since
the
first
of
the
Non-­‐Farm
Employment
Private-­‐Sector
Employment
Unemployment
Rate
year
and
remains
significantly
above
pre-­‐
recession
levels.
EMPLOYMENT
OVERVIEW
DEMAND
GROWS
AND
LAYOFFS
SLOW
The
number
of
job
openings
has
been
JUN
MAY
APR
MAR
FEB
increasing
steadily
since
the
recession
ended,
signaling
a
renewed
demand
trend.
The
pace
of
Total
non-­‐farm
employment
growth
80K
77K
68K
143K
259K
layoffs
has
also
slowed
and
is
now
back
to
its
long-­‐term
average
level.
But
these
encouraging
Private
employment
growth
84K
105K
85K
147K
254K
trends
have
not
yet
translated
into
significant
and
sustained
job
crea:on.
Unemployment
rate
8.2%
8.2%
8.1%
8.2%
8.3%
EMPLOYERS
REMAIN
CAUTIOUS
Some
employers
indicate
that
the
lack
of
hiring
stems
from
the
inability
to
find
skilled
workers,
but
many
simply
remain
hesitant
to
ramp
up
their
full-­‐
:me
workforces
in
the
midst
of
uncertain
economic
and
poli:cal
condi:ons.
The
ongoing
European
crisis,
slowdowns
in
emerging
economies,
and
concern
over
U.S.
policies
con:nue
to
weigh
heavily
on
employers’
minds
and
put
a
damper
on
hiring
plans.
Sources:
Bureau
of
Labor
Sta:s:cs
13

14. Global Talent Market Quarterly
BACK TO
TABLE OF CONTENTS
U.S.
LABOR
MARKET
-­‐
SUPPLY
AND
DEMAND
JOB
DEMAND
ON
UPWARD
BUT
UNEVEN
TREND
U.S.
MARKET
-­‐
MONTHLY
LABOR
DEMAND
VS.
LABOR
SUPPLY
Employers
con:nue
to
look
for
more
workers,
as
online
adver:sed
job
vacancies
increased
at
an
average
rate
of
over
100,000
per
month
in
the
first
16,000
10,000
half
of
2012.
The
demand
momentum
remains
fihul,
however,
as
job
ads
were
up
sharply
in
June
but
14,000
9,000
declined
in
May
and
July.
8,000
No.
of
Online
Job
Ads
12,000
No.
of
Unemployed
DEMAND
SURPASSING
PRE-­‐RECESSION
LEVELS
Job
adver:sements
con:nue
to
grow,
with
around
7,000
two-­‐thirds
of
both
U.S.
states
and
metropolitan
(in
000's)
(in
000's)
10,000
areas
now
at
or
above
their
pre-­‐recession
levels
in
labor
demand.
Despite
the
posi:ve
trend,
some
6,000
metro
areas
s:ll
have
unfavorable
supply/demand
8,000
ra:os,
including
Riverside,
Los
Angeles,
and
5,000
Sacramento,
CA;
Las
Vegas;
and
Miami.
6,000
4,000
JOB
MARKET
TIGHTEST
FOR
STEM
OCCUPATIONS
STEM
(science,
technology,
math
and
engineering)
4,000
3,000
workers
con:nue
to
be
in
hot
demand.
Computer
and
mathema:cal
science,
healthcare
prac::oners,
and
architecture/
engineering
are
the
only
large
2,000
2,000
Mar
09
Mar
10
Mar
11
Mar
12
Jun
08
Sep
08
Jun
09
Sep
09
Jun
10
Sep
10
Jun
11
Jun
12
Sept
11
Dec
08
Dec
09
Dec
10
Dec
11
occupa:onal
categories
in
which
adver:sed
job
vacancies
outnumber
job
seekers.
#
of
unemployed
workers
#
of
online
ads
“As
of
June,
almost
half
of
the
occupa:onal
groups
have
Supply/Demand
rates
at
or
below
2.0.
Most
of
these
are
in
professional
categories,
such
as
business
and
finance,
healthcare
professionals,
and
management.”
—
June
Shelp,
Vice
President,
The
Conference
Board,
July
2,
2012
Sources:
Conference
Board
Help
Wanted
OnLine,
Bureau
of
Labor
Sta:s:cs
14

15. Global Talent Market Quarterly
BACK TO
TABLE OF CONTENTS
U.S.
LABOR
MARKET
SPOTLIGHT:
BRIDGING
THE
TALENT
GAP
HELP
WANTED
SIGNS
ARE
STILL
UP
Plenty
of
U.S.
companies
are
looking
for
workers.
60%
Effects
of
Job
Vacancies
on
Current
Workers
According
to
a
recent
CareerBuilder
survey,
more
than
50%
one-­‐third
of
employers
say
they
currently
have
open
51%
40%
posi:ons
for
which
they
cannot
find
qualified
candidates.
30%
36%
34%
33%
OPEN
POSITIONS
TAKING
TOLL
ON
WORKERS,
FIRMS
20%
Ongoing
job
vacancies
are
affec:ng
current
workers’
23%
10%
axtudes
and
performances—and
companies’
botom
0%
lines.
Over
half
of
employers
say
that
current
employees
Longer
hours
Overworked/
no
Lower
quality
of
Lower
morale
Loss
in
revenue
are
working
longer
hours.
More
than
one-­‐third
of
work-­‐life
balance
work
employers
reported
that
job
vacancies
have
led
to
overworked
employees,
a
reduced
quality
of
work
and
lower
morale.
Nearly
one-­‐fourth
cited
a
loss
in
revenue
80%
Most
Difficult
Posi?ons
to
Fill
due
to
the
inability
to
fill
open
posi:ons.
60%
EMPLOYERS
NOT
ADDRESSING
SKILLS
GAPS
61%
58%
57%
Employers
report
that
the
most
difficult
posi:ons
to
fill
40%
54%
are
those
in
cri:cal
areas
such
as
C-­‐level
management,
48%
47%
business
development,
engineering,
and
IT.
But
despite
20%
the
shorhalls
in
such
high-­‐profile
areas,
less
than
half
(41%)
of
employers
surveyed
say
they
are
engaging
0%
workers
in
training
or
other
programs
to
help
alleviate
the
Engineering
C-­‐Level
Business
Crea:ve/
Management
IT
talent
crunch.
Development
Design
CANDIDATES
ARE
READY
TO
LEARN,
CHANGE
Job
seekers,
however,
say
that
they
are
more
than
willing
to
gain
the
addi:onal
skills
that
employers
are
looking
for.
Few
Employers
Have
But
Many
Candidates
are
Willing
to
Learn
New
Nearly
two-­‐thirds
of
candidates
(65%)
say
that
they
are
Programs
that
Fill
Skills
Gaps
Skills
and/or
Train
for
a
Job
in
a
Different
Field
extremely
or
very
willing
to
learn
new
skills,
and
more
than
three-­‐fourths
(77%)
say
they
would
be
willing
to
train
for
a
41%
65%
77%
job
in
a
different
field.
Source:
The
Talent
Crunch,
CareerBuilder,
June
2012
15

16. Workforce Solutions
Industry Insight
THIRD QUARTER l 2012

17. Global Talent Market Quarterly
BACK TO
TABLE OF CONTENTS
THE
WORLD
AT
WORK:
GLOBAL
LABOR
SUPPLY
AND
DEMAND
FORECASTS
Labor
forces
around
the
globe
are
being
shaped
by
various
economic,
demographic,
and
cultural
changes
that
are
leading
to
mismatches
in
the
supply
and
demand
for
workers.
A
new
report
by
the
McKinsey
Global
Ins?tute
predicts
that
these
skills
imbalances
will
grow
stronger
in
the
decades
to
come,
unless
decisive
ac?on
is
taken
by
key
stakeholders,
including
policymakers
and
businesses.
23%
SKILLS
IMBALANCES
WILL
INTENSIFY
As
the
world
economy
shiZs
towards
knowledge-­‐
and
service-­‐ 21%
based
employment,
demand
for
trained
and
skilled
workers
21%
con:nues
to
grow.
Global
labor
markets
will
face
the
challenge
of
DEMAND/SUPPLY
GAPS
BY
SKILL
LEVEL,
Low-­‐Skill
Workers
having
too
few
high-­‐
and
medium-­‐skilled
workers,
and
too
many
2020(E)
16%
Total
Surplus
low-­‐skilled
workers
in
the
coming
years.
+89
to
94M
13%
The
shortage
of
high-­‐skilled
workers
will
be
most
severe
in
India
advanced
economies
and
in
China.
China,
despite
a
drama:c
rise
Advanced
-­‐13M
in
educa:onal
atainment,
is
expected
to
see
a
gap
of
23
million
Economies
college-­‐educated
workers
by
2020.
-­‐16
to
-­‐18M
Young
Developing
Industrializa:on
is
expected
to
raise
demand
for
medium-­‐skilled
China
Economies
workers
in
India
and
young
developing
economies,
but
a
shortage
-­‐23M
-­‐31M
of
these
workers
will
arise
due
to
low
rates
of
secondary
educa:on
enrollment
and
comple:on.
India
&
Young
Developing
A
poten:al
surplus
of
around
90
million
or
more
low-­‐skilled
Economies
workers
worldwide
is
projected
by
2020.
Advanced
economies
will
+58M
need
to
find
employment
for
more
than
30
million
low-­‐skilled
High-­‐Skill
Workers
Medium-­‐Skill
Workers
Total
Shortage
Total
Shortage
Advanced
workers,
but
nearly
two-­‐thirds
of
the
oversupply
will
be
in
India
Economies
and
other
young
developing
economies
in
Asia
and
Africa.
-­‐38
to
-­‐41M
-­‐45M
+32
to
+35M
Source:
The
World
at
Work:
Jobs,
Pay,
and
Skills
for
3.5Billion
People,
McKinsey
Global
Ins:tute,
2012
17
Young
Developing
Countries
are
in
Asia
(Bangladesh,
Pakistan)
and
Africa
(Nigeria,
Kenya,
etc.).