In 2011, ManpowerGroup identified the “Human Age,” a new era in which talent overtakes capital as a key economic differentiator. Driven by four key global forces — greater individual choice, the rise of customer sophistication, shifting demographics and the ongoing technological revolution — the Human Age continues to shape the workplace and its impact is increasingly apparent.
The Great Recession and the protracted, uneven recovery reveal how longer-term structural trends have altered global markets. In this new normal, economies continue to grind in low gear, especially the three main engines of global growth — Europe, United States and the BRIC nations. The Euro area is beset by unemployment, threat of deflation, a refugee crisis, the Volkswagen implosion and radical politicians who agree on little that will drive growth. The U.S. economy faces weaker expansion with interest rates rising. The dollar continues to strengthen, while China’s growth is likely to drop another notch, reducing demand in global markets.