Global labor markets fall into eight clusters, each distinctly positioned in terms of age profile and educational attainment.
To better understand how different economies are likely to experience potential labor market gaps, MGI looked at 70 countries that account for 96 percent of global GDP and are home to 87 percent of the world’s population.
By plotting educational and age profiles for each c…ountry, as well as per capita GDP, we see how prepared their labor forces are to meet future demand, how easily they can increase their labor forces, and how productive their labor is. This yields eight clusters of countries: four in developing economies, three in advanced economies, and one group comprising Russia and states in Central and Eastern Europe.
This exhibit comes from “The world at work: Jobs, pay, and skills for 3.5 billion people,” the new McKinsey Global Institute report, on the McKinsey & Company Web site.