Observed Signal · Jul 23, 2018 · Market Forecast · Source: OnlineMarketing.de · Impact: 2/5 · Sentiment: Neutral
Skilled workers' wages to rise 13,800 euros by 2030
Germany faces an aging population and a growing shortage of skilled labor. Korn Ferry forecasts rising wages for qualified workers by 2030, estimating an average increase of 13,800 euros, though not all employees will benefit. Demand will be strongest for science, technology, and digitization-capable profiles, with about 11 million workers potentially benefiting, while those without higher qualifications may see wage growth limited to inflation. Globally, only four countries are expected to see stronger wage growth for skilled workers—Hong Kong, Singapore, Australia, and Germany—with Japan facing a similar demographic challenge. By 2030, global salaries could be roughly 2.5 trillion USD higher than today, while Germany may incur hundreds of billions in higher economic costs due to this shift. Korn Ferry recommends corporate investment in talent development and retraining to adapt to the evolving labor market, noting uncertainty from events like Brexit and geopolitical tensions.
Macro-economic wage growth forecast; not specific to AdTech
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Key Takeaways & Evidence Grounding
- Korn Ferry forecasts an average 13,800-euro wage increase for skilled workers in Germany by 2030.
- Approximately 11 million workers could benefit from higher wages; not all will be affected equally.
- Wages for workers without higher qualifications are expected to rise only with inflation.
- Germany is among four countries with faster wage growth for skilled workers (Hong Kong, Singapore, Australia, Germany); Japan shares the same demographic issue.
- Global salaries could be about 2.5 trillion USD higher in 2030 than today.
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