There is growing polarization of labor-market opportunities between high- and low-skill jobs, unemployment and underemployment especially among young people, stagnating incomes for a large proportion of households, and income inequality. Challenges in labor markets are growing, household incomes in advanced economies have been stagnating, and there are increasing skill gaps among workers. The decline is due in part to the growth of corporate profits as a share of national income, rising capital returns to technology investments, lower returns to labor from increased trade, rising rent incomes from home ownership, and increased depreciation on capital. In a McKinsey survey of young people and employers in nine countries, 40 percent of employers said lack of skills was the main reason for entry-level job vacancies.
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