The U.S. American Labor Market. Implications for HR Strategy

Document from the year 2018 in the subject Business economics - Business Management, Corporate Governance, grade: 1,7, , language: English, abstract: First, the country is described and analyzed from a macro perspective using the PESTEL framework. Second, the analysis focuses on the domestic labor market. Here, facts and major shifts are explained, and current significant challenges are outlined. Through that, risks and opportunities are assessed, and a labor market outlook is given. Finally, implications for a human resource strategy are formulated, addressing the specific risks and opportunities of the American labor market. The U.S. labor market has undergone major changes over the past decades. Besides globalization and other macroeconomic factors, demographic shifts, immigration, innovations in information technology and a decrease in unionization have been changing the American labor market in multiple ways. In the following, the most important shifts in the last decades are outlined and, additionally, an outlook with main challenges is given.