Goldman Sachs: Womenomics: Women’s contribution to the labour force — difficult to overstate… ”We’ve seen a clear trend to higher female labour force participation in many countries in recent years. The US was once clearly in the lead for women’s workforce participation, but while the US has seen no change in recent decades, others have caught up and overtaken (Exhibit 1). The most impressive has been Japan’s rapid increase (Exhibit 2). The change in women’s contribution to the workforce over recent decades is difficult to overstate. For example, the rise in the Italian labour force since the 1970s has largely been due to women joining and participating more; but for this, the labour force would have been flat or shrunk (a function of a declining working-age population) (Exhibit 3). In Japan, employment has grown despite the demographics, which alone would have pointed to a sharp decline in numbers of workers. It has been a combination of women joining and staying in the workforce with a higher propensity — encouraged by reforms to working practices and family-friendly polices — and older cohorts, both men and women, working for longer (Exhibit 4).”
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Morgan Stanley: Why Immigration Matters for Global Economies. ”Migration has always been an important feature of the global economy. Not surprisingly, migrants typically move from lower income countries to higher income countries and for more than 50 years, it has added something like three-tenths of a percent per year to the growth of high-income economies. But in recent years, migration trends have been hit by a couple of major events. One was COVID. International travel restrictions during the pandemic slowed, or stopped, migration for a while. Despite a strong rebound over the past two years, many economies still have not fully recovered to pre-COVID migration trends. Another is geopolitical unrest. The Ukrainian refugee crisis, for example, is the largest population displacement in Europe since WWII with increasingly global repercussions. But how does immigration affect economies? One way that I frame the discussion is that immigration can boost both aggregate supply and aggregate demand. It’s likely some of each — and the relative importance of those two affects how inflationary or disinflationary the phenomenon is. In 2023, with a very large influx of immigrants into the US labor market, the economy was able to grow rapidly while still seeing inflation fall. The supply effect dominated the demand effect. In Australia, by contrast, with more of the immigrants in school or otherwise not in the labor market, prices — especially for housing — have gone up because demand was relatively more important.”
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Citigroup: Derfor er Novo Fonden interesseret i quantum technologies (podcast): ”Professor Lene Oddershede, Senior Vice President of Natural & Technical Sciences at the Novo Nordisk Foundation, joins Citi’s Tahmid Quddus Islam. They discuss: Why is the Novo Nordisk Foundation interested in quantum technologies? What are some of the potential applications of quantum computing and quantum sensing in pharma? What developments are needed in quantum science for these technologies to really take off? Could quantum technologies and artificial intelligence enable one another? What are the realistic timelines for the different types of quantum technologies?” Hør podcasten her
Citigroup: The Rise of AI Robots: Physical AI Is Coming for You. ”One of artificial intelligence’s next phases will see it gain a body: think robot cleaners, chauffeurs, butlers and personal assistants freeing up our time. We highlight 10 technological innovations enabling these potential advances, as well as 12 challenges on the path to mass adoption.”
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