core sector communique

World Economic Forum Report Calls for Greater Talent Mobility to Prevent Global Labour Crisis

• Stimulating Economies through Fostering Talent Mobility report demonstrates the magnitude of an impending global labour crisis by analyzing talent shortages across 22 countries and 12 industry sectors and argues that talent mobility can stimulate economies in both developed and developing countries.
• By 2030 developed world will need millions of new employees to sustain economic growth (USA 26 million employees, Western Europe 46 million employees).
• Developing countries, not affected by ageing populations (the workforces of India and Brazil will grow by more than 200 million people over the next two decades), will also face huge skills gaps in some job categories due to low employability.

Geneva/New York, March 23, 2010 – Despite high unemployment, the global economy enters a decade of unparalleled talent scarcity. If left unaddressed, it will put a brake on economic growth in both developed and developing countries, warns Stimulating Economies through Fostering Talent Mobility, a new report released today by the World Economic Forum in collaboration with The Boston Consulting Group (BCG).