Demographic Changes and Workforce Dynamics

In developed economies, the workforce is expected to peak and then decline due to low fertility rates and changing marital patterns, affecting future employment supply. This demographic shift, despite people working longer, leads to a constrained supply of young workers entering the job market. The rise of remote and gig work further complicates hiring, as employees seek multiple income streams, resulting in higher competition for roles. Therefore, the demand for employees is projected to outpace supply, explaining the challenges in hiring even amidst economic uncertainties.