BARCELONA — According to Julius Probst, European labor economist at StepStone Group subsidiary Appcast, demographics, migration and AI will reshape labor markets globally in the coming years.

He envisaged a future of “centaur” workers — half human, half machine — but added that it remained uncertain whether this would reduce or widen inequality. In recruitment, AI is also driving smarter matching and autonomous sourcing, he said.

“Do not expect miracles from AI straight away,” cautioned the economist, adding, “The speed of adaption is uncertain.”

“Ageing populations will fundamentally transform our economies and labor markets,” he said.

He noted that the demographic outlook is particularly problematic in countries like Germany and Japan — as illustrated by tighter labor markets — boosting the bargaining power of workers.

Probst added that migration had exceeded forecasts in countries like Germany and the U.K. for more than a decade. “The global push and pull factors at work will not abate any time soon,” he noted, adding that climate change could emerge as a major push factor.

“Higher-than-expected net migration figures have been throwing off historic population forecasts,” he said.

However, this process continues to have political repercussions: “There is an apparent conflict between advanced economies realizing that they are dependent on net migration and voters shifting in the opposite direction.”

Probst was speaking on the first day of the AIM Group’s RecBuzz conference.

Print Friendly, PDF & Email

Related Articles