Skip to main content
PGIM LogoPGIM Logo
  • CONTINUAR EN INGLES

    • Megatendencias
    • Informe anual Best Ideas
    • Serie OutFront
    • Investigación de cartera
    • Panorama trimestral del mercado
    • Eventos de mercado
    • Liderazgo de pensamiento
    • Eventos y seminarios web
    • Videoteca
    • Pódcasts
  • Continuar en ingles

    • Inversión en ESG
    • Cómo invertir en alternativas
    • Cómo invertir en mercados emergentes
    • Gestión de riesgos
  • Alternativas

    • PGIM Private Alternatives
    • PGIM Private Capital
    • PGIM Real Estate
    • Montana Capital Partners (PE)

    Renta variable y renta fija

    • PGIM Fixed Income
    • Jennison Associates

    Soluciones

    • PGIM DC Solutions
    • PGIM Multi-Asset Solutions
    • PGIM Quantitative Solutions

    Distribución intermediaria

    • PGIM Investments
  • CONTINUAR EN INGLES

    • Clientes a los que les prestamos servicio
    • Asesores financieros
    • Relaciones institucionale
    • Ubicaciones globales
    • Comuníquese con nosotros
  • CONTINUAR EN INGLES

    • Descripción general
    • Liderazgo
    • Historia
    • Diversidad, equidad e inclusión
    • Ubicaciones globales
    • Comuníquese con nosotros
    • Suscripción
    • Solicitar información
  • CONTINUAR EN INGLES

    • Empleos en PGIM
    • Oportunidades laborales
  • CONTINUAR EN INGLES

    • Todas las noticias
    • Comunicados de prensa
    • En la prensa
    • Datos y cifras
    • Contactos con los medios
Megatrends Labor Markets banner image
Press Release

Next generation of leaders and laggards in a new era of labor: PGIM studyNextgenerationofleadersandlaggardsinaneweraoflabor:PGIMstudy

Por PGIM Global Communications — 2 de nov. de 2023

3 minutos de lectura

Compartir
  • Mail
  • LinkedIn
  • Twitter
  • Copy URL
  • Print

Compartir

NEWARK, N.J., Nov. 2, 2023 – Global labor markets are at a critical turning point, with significant structural changes underway that will create future labor shortages, inflation and headwinds to economic growth. New research from PGIM, the $1.2 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU), explores how macroeconomic forces are reshaping the global workforce and economy.

In “The Transformation of Labor Markets: Winners and losers in a new era,” the latest in PGIM’s Megatrends research series, PGIM examines the drivers transforming global labor markets and the impact for investors determining future leaders and laggards across industries, regions and countries.

Media Contact

Sharan Kaur

+44 (0)7866154772

sharan.kaur@pgim.com

Shehriyar Antia
“The combined effects of tighter labor supply due to aging populations, the rise of AI and the pushback on globalization will have a major impact on growth and inflation, as well as fiscal policy around the world.”
Shehriyar AntiaHead of Thematic ResearchPGIM

“Profound structural changes to labor markets were already underway prior to COVID-19,” said Shehriyar Antia, head of Thematic Research for PGIM. “The combined effects of tighter labor supply, growing labor market mismatches, the rise of AI and the pushback on globalization will have a major impact on growth and inflation around the world.”

KEY FORCES DRIVING GLOBAL LABOR MARKETS

In the report, PGIM identifies four forces underpinning structural change in labor markets:

  1. Demographic trends reshaping global workforce: Notably the “dual aging” of companies and older, settled workers is dampening entrepreneurship and innovation, with the U.S., for example, seeing a decline in startups.
  2. Structural mismatch in labor demand and supply: Labor mismatches are being amplified by technology, reshoring and industrial policy. For example, by 2030 the U.S. semiconductor industry expects more than half of the roles they need will be unfilled due to a lack of workers with the technical skills to manufacture chips.
  3. AI brings automation from the factory floor to the office: Labor and tech have a complex relationship — AI both enhances productivity and replaces jobs. While it may eventually displace workers — especially in service industries such as law, finance, pharma research, and education — this won’t happen imminently and to the scale current headlines are suggesting.
  4. Fraying globalization impact on labor patterns: With the “golden era” of globalization over, there are paradigm shifts underway which are being overlooked by investors. Migration, onshoring of global supply chains and the resurgence of labor bargaining power are all factors investors must consider given their potential to reshape growth, inflation, and monetary policy in this new era of labor markets.

“Technology and trends like the reshoring of supply chains are increasingly creating labor mismatches across advanced economies,” added Taimur Hyat, PGIM’s chief operating officer. “This research points investors to where companies will find the skills they need to grow — an important factor to consider when making long-term investment decisions.”

TODAY’S REGIONAL LEADERS FACE CHALLENGES IN THE NEW ERA

“The reshaping of labor markets will create a new set of winners and losers by industry and region, added Taimur Hyat, PGIM’s chief operating officer. “It’ll be essential for investors to understand the far-reaching implications of these new dynamics” In the report, PGIM creates a framework for evaluating labor supply, labor quality and policy environment.

The study finds that many of the current leaders will struggle to meet future demands for labor. Meanwhile, new and unexpected nations are better placed to take advantage of the labor transformation. The findings include:

  • In Asia, China will be greatly challenged to meet their future demand for labor. China’s steep demographic drop-off and net negative migration means it scored poorly on labor supply.
  • Largest economies in Europe will be challenged while smaller countries like Sweden and Switzerland are better positioned. Germany, Italy and Spain will be challenged in the new era by a steep demographic drop-off that is not likely to be resolved by current immigration policies.
  • In the Americas, current regional leaders Mexico and Brazil will be challenged as both face steep demographic challenges that are unlikely to be mitigated by current trends in migration or female labor participation. In addition to Canada and the U.S., Chile and Costa Rica are well positioned for the new era of labor.
  • While African leaders South Africa, Egypt and Nigeria have favorable demographics relative to nations in other regions, they scored poorly on labor quality and ease of doing business.

A DEEPER DIVE INTO THE U.S.

PGIM also collaborated closely with the Brookings Institution to take a more granular look at the labor characteristics of U.S. states and cities. The study found:

  • States such as Oregon and Wisconsin have the highest potential to boost local productivity and growth.
  • Cities with major universities supplying scientific and research talent are attractive even in otherwise challenged states. For example, Mobile, Alabama, is a hub for skill-adjacent industries like aviation and aerospace, as well as chemical and machinery industries.

For more, read “The Transformation of Labor Markets” and visit PGIM’s Megatrends 360 for investment insights categorized across asset classes, themes and regions.

ABOUT PGIM                                   

PGIM is the global asset management business of Prudential Financial, Inc. (NYSE: PRU), a global investment manager with more than $1.2 trillion in assets under management as of September 30, 2023. With offices in 18 countries, PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including public fixed income, private fixed income, fundamental equity, quantitative equity, real estate and alternatives. For more information about PGIM, visit pgim.com.

Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information please visit news.prudential.com.

  • Por PGIM Global Communications

See More

Public-Private Debt Convergence Puts the Squeeze on Smaller Managers
In the News

Public-Private Debt Convergence Puts the Squeeze on Smaller Managers

22 de may. de 2025

PGIM’s Phil Waldeck and Gabriel Rivera discuss the convergence of public and private credit in FundFire.

PGIM Chairman David Hunt on Expanding Access to Private Alternatives
In the News

PGIM Chairman David Hunt on Expanding Access to Private Alternatives

Por David Hunt — 21 de may. de 2025

Hunt joined Bloomberg TV to reflect on his tenure at PGIM, the firm’s global growth, and the evolution of asset management during his career.

PGIM Real Estate provides $141M in floating-rate financing for affordable housing portfolio in the Bronx
Press Release

PGIM Real Estate provides $141M in floating-rate financing for affordable housing portfolio in the Bronx

19 de may. de 2025

This affordable housing portfolio comprises 2,021 units across 34 properties, totaling 2.1 million square feet, located in the northern Bronx.

  • Perspectivas

    • Megatendencias
    • Informe anual Best Ideas
    • Panorama trimestral del mercado
    • Eventos de mercado
    • Liderazgo de pensamiento
    • Events & Webinars
  • Temas de inversión

    • Inversión en ESG
    • Cómo invertir en alternativas
    • Cómo invertir en mercados emergentes
    • Gestión de riesgos
  • Clientes

    • Clientes a los que les prestamos servicio
    • Asesores financieros
    • Relaciones institucionales
  • Acerca de nosotros

    • Descripción general
    • Liderazgo
    • Historia
    • Diversidad, equidad e inclusión
    • Ubicaciones globales
    • Comuníquese con nosotros
    • Suscripción
    • Solicitar información
  • Empleos

    • Empleos en PGIM
    • Oportunidades laborales
  • Sala de prensa

    • Noticias
    • Comunicados de prensa
    • En la prensa
    • Datos y cifras
    • Contactos con los medios
PGIM Logo
  • Términos y condiciones
  • Centro de privacidad
  • Ayuda de accesibilidad (en inglés)
  • Divulgaciones regulatorias del Reino Unido
  • Divulgaciones regulatorias del Países Bajos
  • Centro de preferencias de cookies

Solo para inversionistas profesionales. Todas las inversiones implican riesgos, incluida la posible pérdida de capital.

Este material es solo para fines informativos y educativos, y no debe interpretarse como asesoramiento de inversión ni como una oferta o promoción relacionada con ningún producto o servicio para cualquier persona que tenga prohibido recibir esta información en virtud de las leyes aplicables a su lugar de ciudadanía, domicilio o residencia. PGIM es el negocio principal de gestión de activos de Prudential Financial, Inc., y un nombre comercial de PGIM, Inc. y sus subsidiarias globales. PGIM, Inc. es un asesor de inversiones registrado en la Comisión de Bolsa y Valores (Securities and Exchange Commission, SEC) de los EE. UU. El registro en la SEC no implica un cierto nivel de competencia o formación.

La información incluida en este sitio web no pretende ser asesoramiento en inversiones y no ofrece recomendación alguna sobre la administración o inversión de sus ahorros para la jubilación. Al poner la información a disposición en este sitio web, PGIM, Inc. y sus afiliadas no actúan como su fiduciario.    

En el Reino Unido, la información es emitida por PGIM Limited, con domicilio social en: Grand Buildings, 1-3 Strand, Trafalgar Square, Londres, WC2N 5HR. PGIM Limited está autorizada y regulada por la Autoridad de Conducta Financiera (Financial Conduct Authority, FCA) del Reino Unido (número de referencia de la empresa: 193418). En el Espacio Económico Europeo (EEE), la información es emitida por PGIM Netherlands B.V., con domicilio social en: Gustav Mahlerlaan 1212, 1081 LA, Ámsterdam, Países Bajos. PGIM Netherlands B.V. está autorizada por Autoriteit Financiële Markten (AFM) en los Países Bajos (número de registro: 15003620) y opera sobre la base de un pasaporte europeo. En ciertos países del EEE, PGIM Limited presenta la información, cuando está permitido, en función de disposiciones, exenciones o licencias disponibles para PGIM Limited en virtud de acuerdos de permisos temporales después de la salida del Reino Unido de la Unión Europea. PGIM Limited o PGIM Netherlands B.V. emiten estos materiales para personas que son clientes profesionales según se define en las reglas de la FCA o para personas que son clientes profesionales según se define en la implementación local pertinente de la Directiva 2014/65/UE (MiFID II). En Italia, la información es proporcionada por PGIM Limited, autorizada para operar en Italia por la Comisión Nazionale per le Società e la Borsa (CONSOB). 

En Japón, la información es proporcionada por PGIM Japan Co., Ltd. (PGIM Japan) o PGIM Real Estate (Japan) Ltd. (PGIMREJ).  PGIM Japan, un operador comercial de instrumentos financieros registrado en la Agencia de Servicios Financieros de Japón, ofrece diversos servicios de gestión de inversiones en Japón.  PGIMREJ es un administrador de activos inmobiliarios japonés que está registrado en la Oficina de Finanzas Locales de Kanto en Japón.

En Hong Kong, PGIM (Hong Kong) Limited, una entidad regulada por la Comisión de Títulos y Futuros de Hong Kong, proporciona la información para inversionistas profesionales según se define en la Sección 1 de la Parte 1 del Anexo 1 de la Ordenanza de Títulos y Futuros (Cap. 571). En Singapur, la información es publicada por PGIM (Singapore) Pte. Ltd. (PGIM Singapore), una entidad regulada por la Autoridad Monetaria de Singapur en virtud de una Licencia de Servicios de Mercados de Capitales para llevar a cabo la gestión de fondos y un asesor financiero exento. Este material es emitido por PGIM Singapur para brindar información general de “inversionistas institucionales”, de conformidad con la Sección 304 de la Ley de Títulos y Futuros (Securities and Futures Act, SFA) de Singapur de 2001, y de “inversionistas acreditados” y otras personas pertinentes de acuerdo con las condiciones especificadas en la Sección 305 de la Ley SFA. En Corea del Sur, la información es emitida por PGIM, Inc., que tiene licencia para prestar servicios discrecionales de gestión de inversiones directamente a inversionistas institucionales calificados de Corea del Sur en forma internacional.

You are viewing this page in preview mode.

Edit Page