Forget robots, the future belongs to workers, new report says

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Market Watch
Jeffry Bartash
Apr. 13, 2018

Is the future going to be a workers’ paradise? Maybe not, but leverage in the workplace may finally be shifting from bosses to the rank and file after a lost decade for labor.

The stage is set, according to a new survey of the U.S. and global labor markets. The world economy is stronger than it’s been in years, good talent is increasingly hard to find and an aging population suggests labor shortages are only going to get worse in developed countries.

The result: Companies will have do more to recruit or retain employees with higher pay, better benefits and improved working conditions.

“The past 30 to 40 years were difficult for the average U.S. worker, characterized by weak earnings growth, declining job security, rising income inequality and an increase in work pressure,” wrote Gad Levanon, chief North American economist at the Conference Board and lead author of the report. “The new normal will be a tight labor market and workers are likely to get a bigger slice of the pie.”

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