core sector communique

World Economic Forum  Report Urges Increased Labour Mobility to Meet Demands for Economic Growth New York, USA, 7 January 2011 – Industries and countries worldwide will require major increases of highly educated people in their workforces to sustain economic growth, argues a new report prepared by the World Economic Forum in collaboration with The Boston Consulting Group (BCG). The report, Global Talent Risk – Seven Responses, analyses projected talent shortages by 2020 and 2030 in 25 countries, 13 industries and 9 occupational clusters. The report concludes that: Demand will be biggest for highly educated professionals, technicians and managers. Professionals will be in particularly high demand in trade, transport and communications industries in developing nations. In the next two decades demand for professionals in manufacturing will peak at more than 10% in developing countries, exceeding 4% across all countries sampled (labour demand growth rates are compounded annually). Healthcare research and development alone will generate an enormous demand for skilled labour worldwide. Employees without critical knowledge and technical skills will be left behind