Countries with labor surpluses and no economic growth are at risk of the surpluses spiraling out of control. Two countries with continuing surpluses include South Africa with 7 million, and the US with 20 million.
These countries should consider:
a) Repatriate the manufacturing it previously outsourced,
b) Align educational qualifications of college graduates and labor workforce needs (currently a mismatch),
c) Encourage entrepreneurialism.
As companies search for workers, supply/demand kicks in and jobs should transfer from countries with labor supply shortages towards those with surpluses (US and South Africa).
Is your company positioned for repatriation?
