According to one report, India and China represent 40 percent of the world's supply of labor. Still, many of them are unskilled and even more are unemployed.
The UN predicts that in the next five years, India will contribute 71 million and China 44 million workers to the global labor pool. It's going to be awfully crowded in the lap lanes.
At the same time, the US workforce is expected to expand by 10 million - immigrants perhaps?
Europe's work force will not change and Japan's is expected to shrink by 3 million...but will make up for it with increased efficiency in production.
With so many people in these two countries, companies may think that there is very deep end to the pool, such that the bottom cannot be touched. But, that is not the case. sooner or later, more Indians and Chinese will need to be trained to keep up with the demand for workers.
What do you think?
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Posted by: ConsItalia | January 16, 2007 5:18 AM | Permalink to Comment