2016 Global Labour Market Trends, and Saudi Opportunities

As Euromonitor has published its forecast for 2016 global labour market trends, several opportunities can be seen for Saudi Arabia's economy, which is dominated by services and has recently seen some turbulence due to structural changes in its labour supply.

Euromonitor sees three key trends in the global labour market;

1. Record low unemployment is forecasted in developed markets, the lowest since 2008, and if so may well drive consumer confidence.
2.  Automation expected to further replace human labour, with China being the leader in production and use. 
3. Shift of labour force from primary industries such as agriculture and fishing into advanced industries such as services and finance, this may bring the work force in emerging markets more into competition with those in the developed market.

With the above said, Saudi Arabia may see a number of economic opportunities;

1. Increased energy demand from developed markets.
2. Availability of a surplus of manufacturing workforce in China who may have lost their jobs due to automation trends.
3.  Increased global supply in services & finance workforce, both in emerging and developed markets.