Economist Podcasts The Intelligence: Workers of the world, delight!
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Jan 4, 2024 
Join Christian Ogendail, European Economics Editor at The Economist, Matthew Hullhouse, the publication's Britain correspondent, and Leo Marani, their India correspondent, as they dive into transformative labor market shifts from aging demographics to AI innovations. They dissect the political tension ahead of Britain’s 2024 elections, spotlighting the Labour Party's momentum against rising living costs. Plus, discover how India’s single malt whiskey industry is forging a place on the global stage amidst intense competition.
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Shifting Labor Markets
- The mid-2010s were a bad time for workers due to the financial crisis and weak wage growth.
- Now, conditions have improved, creating a "golden age" for workers in the rich world.
Demographic Shift
- Demography is the biggest change in labor markets, as aging societies make labor scarcer.
- This scarcity increases worker value, especially for manual labor, and reduces outsourcing threats.
Worker Demand
- Companies are hesitant to lay off employees due to worker shortages and high job openings.
- Immigration increases, but it won't fully address the labor gap, giving workers more leverage.