Trends Identified
Rise of aggressive nationalism
With the rise of the new and emerging economies, an ongoing power struggle for global leadership and resources has created a great deal of uncertainty and instability in the international state system. Largely unresolved sustainable development issues and the competition for finite resources present a potential trigger for war. In the uncertain geopolitical environment, nation states are the key actors. Economic powerhouses, including the USA, Germany and a number of the newly industrialized countries, act as leadership poles and dominate international decision-making structures. With an increase in international tensions, the economies of the leading powers are largely driven by national military-industrial complexes.
2011
ICSU Foresight Analysis
International Council for Science (ICSU)
Renewables step up to the plate; coal strikes out
The rapid deployment and falling costs of clean energy technologies; in 2016, growth in solar PV capacity was larger than for any other form of generation; since 2010, costs of new solar PV have come down by 70%, wind by 25% and battery costs by 40%.
2017
World energy outlook 2017 executive summary
International Energy Agency (IEA)
The future is electrifying
The growing electrification of energy; in 2016, spending by the world’s consumers on electricity approached parity with their spending on oil products.
2017
World energy outlook 2017 executive summary
International Energy Agency (IEA)
When China changes, everything changes
The shift to a more services-oriented economy and a cleaner energy mix in China, the world’s largest energy consumer.
2017
World energy outlook 2017 executive summary
International Energy Agency (IEA)
The shale revolution in the United States is turning to exports
The resilience of shale gas and tight oil in the United States, cementing its position as the biggest oil and gas producer in the world even at lower prices.
2017
World energy outlook 2017 executive summary
International Energy Agency (IEA)
Global economic growth has rebounded and is expected to remain stable but low
Global economic growth increased to 3.6 per cent in 2017, after hitting a six-year low of 3.2 per cent in 2016. The recovery was broad based, driven by expansions in developing, emerging and developed countries alike. Future growth is likely to stay below 4 per cent, as economic activity normalizes in most major economies without signi cant stimulus and fixed investment remains at a moderate level.
2018
World Employment and Social Outlook
International Labour Organization (ILO)
Global unemployment remains elevated at more than 190 million
The latest developments in global unemployment are also mixed. According to the ILO’s new estimation, based on improved data sets and methodologies, the global unemployment rate is expected to fall slightly to 5.5 per cent in 2018 (from 5.6 per cent in 2017), marking a turnaround after three years of rising unemployment rates. However, with a growing number of people entering the labour market to seek employment, the total number of unemployed is expected to remain stable in 2018, above 192 million. In 2019, the global unemployment rate is expected to remain essentially unchanged, whereas the number of unemployed is projected to grow by 1.3 million.
2018
World Employment and Social Outlook
International Labour Organization (ILO)
Vulnerable employment is on the rise
With these improvements in employment projected to be modest, the number of workers in vulnerable forms of employment (own-account workers and contributing family workers) is likely to increase in the years to come. Globally, the significant progress achieved in the past in reducing vulnerable employment has essentially stalled since 2012. In 2017, around 42 per cent of workers (or 1.4 billion) worldwide are estimated to be in vulnerable forms of employment, while this share is expected to remain particularly high in developing and emerging countries, at above 76 per cent and 46 per cent, respectively. Worryingly, the current projection suggests that the trend is set to reverse, with the number of people in vulnerable employment projected to increase by 17 million per year in 2018 and 2019.
2018
World Employment and Social Outlook
International Labour Organization (ILO)
The pace of working poverty reduction is slowing
Similarly, the global labour market has seen only weak progress in the area of working poverty. In 2017, extreme working poverty remained widespread, with more than 300 million workers in emerging and developing countries having a per capita household income or consumption of less than US$1.90 (PPP) per day. Overall, progress in reducing working poverty is too slow to keep pace with the growing labour force in developing countries, where the number of people in extreme working poverty is expected to exceed 114 million in 2018, or 40 per cent of all employed people.
2018
World Employment and Social Outlook
International Labour Organization (ILO)
Significant variations in employment outcomes continue to exist between regions and countries
The world continues to experience diverse trends in employment outcomes. Developed countries are expected to enter their sixth consecutive year of decreasing unemployment rates, falling to 5.5 per cent in 2018, the lowest rate since 2007. Yet many countries continue to report high rates of labour underutilization, with large shares of discouraged workers and growing incidence of involuntary part- time employment.
2018
World Employment and Social Outlook
International Labour Organization (ILO)