Editing Millennials (section)

==Economic prospects and trends==
{{main|Millennial economics}}
Trends suggest developments in [[artificial intelligence]] and robotics will not result in mass unemployment, but can actually create high-skilled jobs. However, in order to take advantage of this situation, people need to hone skills that machines have not yet mastered, such as teamwork.<ref>{{Cite web|url=https://www.weforum.org/agenda/2019/01/jobs-of-next-20-years-how-to-prepare|title=What the next 20 years will mean for jobs – and how to prepare|last=Kasriel|first=Stephane|date=10 January 2019|website=World Economic Forum|access-date=25 October 2019}}</ref><ref>{{Cite journal|url=https://hbr.org/2019/09/why-even-new-grads-need-to-reskill-for-the-future|title=Why Even New Grads Need to Reskill for the Future|last1=Zao-Sanders|first1=Marc|last2=Palmer|first2=Kelly|date=26 September 2019|journal=Harvard Business Review|publisher=Harvard Business School Publishing|access-date=25 October 2019}}</ref>

By analyzing data from the United Nations and the Global Talent Competitive Index, KDM Engineering found that {{as of| 2019}}, the top five countries for international high-skilled workers are Switzerland, Singapore, the United Kingdom, the United States, and Sweden. Factors taken into account included the ability to attract high-skilled foreign workers, business-friendliness, regulatory environment, the quality of education, and the standard of living. Switzerland is best at retaining talents due to its excellent quality of life. Singapore is home to a world-class environment for entrepreneurs. And the United States offers the most opportunity for growth due to the sheer size of its economy and the quality of higher education and training.<ref>{{Cite web|url=https://www.weforum.org/agenda/2019/03/which-countries-are-set-to-attract-the-highest-skilled-workers-from-abroad|title=Which countries are best at attracting high-skilled workers?|last=Desjardins|first=Jeff|date=20 March 2019|website=World Economic Forum|access-date=27 October 2019}}</ref> As of 2019, these are also some of the world's [[Global Competitiveness Report|most competitive economies]], according to the [[World Economic Forum]] (WEF). In order to determine a country or territory's economic competitiveness, the WEF considers factors such as the trustworthiness of public institutions, the quality of infrastructure, macro-economic stability, the quality of healthcare, business dynamism, labor market efficiency, and innovation capacity.<ref>{{Cite web|url=https://www.weforum.org/agenda/2019/10/competitive-economies-world|title=These are the world's 10 most competitive economies in 2019|last1=Geiger|first1=Thierry|last2=Crotti|first2=Roberto|date=9 October 2019|website=World Economic Forum|access-date=27 October 2019}}</ref>

From 2000–2020, before the COVID pandemic, economic activities tended to concentrate in the large metropolitan areas, such as San Francisco, New York, London, Tokyo and Sydney. Productivity increased enormously as knowledge workers agglomerated. The pandemic led to an increase in [[remote work]], more so in developed countries, aided by technology.<ref>{{Cite news |url=https://www.economist.com/special-report/2020/10/08/zoom-and-gloom |title=Zoom and gloom | newspaper=[[The Economist]] |date=8 October 2020}}</ref>

Using a variety of measures, economists have reached the conclusion that the rate of innovation and entrepreneurship has been declining across the Western world between the early 1990s and early 2010s, when it leveled off. In the case of the U.S., one of the most complex economies in existence, economist Nicholas Kozeniauskas explained that "the decline in entrepreneurship is concentrated among the smart" as the share of entrepreneurs with university degrees in that country more than halved between the mid-1980s and the mid-2010s. There are many possible reasons for this: population aging, market concentration, and zombie firms (those with low productivity but are kept alive by subsidies). While employment has become more stable and more suitable, modern economies are so complex they are essentially ossified, making them vulnerable to disruptions.<ref>{{Cite news|last=Naudé|first=Wim|date=8 October 2019|title=The surprising decline of entrepreneurship and innovation in the West|work=The Conversation|url=https://theconversation.com/the-surprising-decline-of-entrepreneurship-and-innovation-in-the-west-124552|access-date=10 October 2020}}</ref>