The planet needs a global joined up solution to take on a looming threat of rising global unemployment, according to a report from international recruiter Hays.

The report, compiled in partnership with economic forecaster, Oxford Economics, reveals:

·     World’s working age population will rise by 1bn in next 20 years

·     All growth to come in developing world, as the developed world ages

·     Developing and developed markets still face looming shortages and imbalances of key skills

·     National labour market and immigration restrictions may worsen situation

Alistair Cox, chief executive of Hays, says: “Our report illustrates the profound and stark challenges our world will face in the future, both to create employment opportunities for a billion more people and balance the mismatch we are already seeing between supply and demand of key skills. 

“Only by thinking globally can governments and companies put in place the environment to solve these conflicting challenges and create the basis for full employment and a sound global economy.”