Finweek English Edition - - IN BRIEF -

Un­em­ploy­ment is not a uniquely South African prob­lem, and with the rise of au­to­ma­tion, the gap be­tween op­por­tu­ni­ties for highly-skilled and low-skilled work­ers is ex­pected to widen even fur­ther. Glob­ally, 30% to 45% of the global work­force is un­der­utilised, mean­ing un­em­ployed, in­ac­tive or un­der­em­ployed, ac­cord­ing to a new study by the McKin­sey Global In­sti­tute (MGI). In the US, UK, Ger­many, Ja­pan, Brazil, China and In­dia alone, this means some 850m peo­ple would like to work, or work more. Glob­ally nearly 75m youth are of­fi­cially un­em­ployed. In ad­vanced economies, two-thirds of house­holds have seen their in­come from wages and capital fall or stag­nate be­tween 2005 and 2014. Ad­dress­ing this global jobs cri­sis brings sig­nif­i­cant chal­lenges for pol­i­cy­mak­ers, business and the work­force.

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