A labor market that works: Connecting talent with opportunity in the digital age
In advanced and emerging economies alike, individuals are struggling to find work and build careers that make use of their skills and capabilities. The strains in global labor markets have been worsening for decades, and the challenges have been magnified in the aftermath of the global recession. In many countries, concerns about employment have been exacerbated by long-term trends of stagnant wage growth and automation. But at the same time, there has been a constant refrain from employers about the difficulties of finding talent with the right skills. This report notes that online talent platforms are increasingly connecting people to the right work opportunities and that this trend may begin to address these problems – and even to swing the pendulum slightly in favor of workers by empowering them with broader choices, more mobility, and more flexibility. These tools are fundamentally altering the way individuals go about searching for work and the way many employers approach hiring. This research aims to build a deeper understanding of how these platforms can affect labor markets, although it does not attempt to address the many broader issues affecting employment prospects, including wage stagnation, automation, and aggregate demand.