Work

• By 2021 AI augmentation will create $2.9 trillion of business value and lead to an increase of 6.2 billion hours of worker productivity, globally.
• The EY ITEM Club expects housing market activity to gradually improve over the second half of 2021, allowing prices to stabilise and then start to firm as unemployment falls and the UK's economic recovery continues.
• Using an unlikely scenario of an unemployment rate of 30% in 2020 due to COVD-19, poverty rates in the United States could reach their highest levels in 50 years.
• Office rents in Greater China, where the pandemic began, will fall 8% this year and 5.2% in 2021: Office vacancy rates will linger at about 25% until 2024, when job growth will raise demand for office space.
• Northern Ireland Government environmental policies such as the net zero target of reducing greenhouse gas emissions by 2050 and increased investment into infrastructure may lead to a growth in jobs .
• In the pessimistic scenario, global working-hour losses in the fourth quarter of 2020 are projected to reach 18.0%, equivalent to 515 million full-time jobs.
• If we put the right policies in place, the U.S. stands to gain more than 22 million jobs by 2035 and 3.6 trillion dollars in economic output from broadband rollout..
• In the next ten years, more than 600 million new jobs will be needed globally to meet the needs of a growing workforce, much of them in emerging markets.
• US IT occupations will increase by 11% between 2019 to 2029, with about 531,200 new jobs added to the U.S. market.
• US unemployment insurance claims indicate that job growth will be slower through the rest of 2020 and that full recovery in the labor market will take years.
• CBO projects the long-run trend of US unemployment to decline gradually over the next three decades, from 4.4% in 2020 to 4.1% in 2030 and 3.7 percent in 2050, as the labor force ages and becomes increasingly educated.
• 5G-configured IoT services and devices will not just bring about technological growth but are also expected to create million jobs in the world by 2035 and enable $12.3 trillion of global economic output.
• In the next decade, shifting demographics will result in a significant decline in the number of workers in the US and globally.
• The number of unemployed workers in Thailand reached 2.5 million in the first half of 2020, and will keep growing next year if state stimulus packages are not strong enough to battle economic woes.
• Australia's oil and gas industry could lure as much as A$ 50 billion in investments that would create 5,000 jobs and about A$ 800 million in annual spending in local communities.
• More than 651,000 jobs supported by the U.S. beer industry will be lost by the end of the year due to the coronavirus pandemic.
• If 5G adoption followed the path of 4G adoption, then, at its peak, 5G will contribute approximately 3 million jobs and $635 billion in GDP to the U.S. economy in the fifth year following its introduction.
• Biden's $2 trillion climate plan, which calls for 100% clean electricity by 2035 and sweeping infrastructure upgrades that would create millions of new jobs, incorporates several recommendations from a Biden-Sanders unity task force.
• In CBO's projections, the potential US labor force grows by 0.3% per year, on average, through 2050; over the past 50 years, its average annual rate of growth was 1.4%.
• With South Africa's Public Investment Cooperation investing R 20 billion in the manufacturing sector for the period between 2021 and 2025 (5 years) will contribute to growth and employment.
• Tripling energy innovation could serve as an economic stimulus for the U.S. economy, creating jobs in industries that will grow exponentially this century.
• A green economic recovery in Brazil will allow its economy and jobs to grow more over the next decade than the current development model, starting in the first year.

Last updated: 04 October 2020