Workplace Predictions and Statistics For 2018

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Workplace Predictions and Statistics for 2018
Can you believe that 2017 is already coming to a close? We hope you’ve had a great year, and continue to close it out with a bang! As for the coming year, some economics professionals have already started to predict a couple of trends to watch out for. Here’s some workplace predictions for 2018, taken from

The Bureau of Labor Statistics predicts:
- The unemployment rate will continue to decline from 4.3% in 2017 to 4.2% in 2017, with an overall projection of 20.5 million jobs being created by 2020.

- While the majority of occupations are projected to grow, those that will experience the fastest growth next year are healthcare, personal care, social assistance and construction.

- The workforce participation of older workers will increase, yet the overall labor force growth rate will decline by next year.

- U.S. salaries are predicted to increase from 3.1% in 2017 to 3.2% in 2018.

- Gross domestic product is expected to increase from 2.3% in 2017 to 2.5% in 2018.

Here are a couple of top workplace trends for 2018 :

Leaders will encourage more human interaction.
- One study found that moments of conversation between co-workers increases performance by 20% and another study uncovered that 72% of employees who have a best friend at work are more satisfied with their job.

Despite more human interaction, artificial intelligence will also become a part of the workplace.
- Chatbots, which is just one example of an artificial intelligence program that facilitate text conversations, are expected to save companies over $79 million dollars in salary expenditures annually, and the efficiencies received by using them are in excess of 30%.

- Nearly 20% of companies have already deployed chatbots in the workplace, with an anticipated 57% by 2021.

- Companies are using chatbots as personal assistants, for on-demand customer support, to mine data, streamline business processes, recover product information and to answer employee questions.

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