The world is currently in an “upswing” in employment creation following a period during which jobs were lost to the advance of technology, the CEO of Credit Suisse said Tuesday.
Speaking to CNBC at the World Economic Forum in Davos, Switzerland, Tidjane Thiam said there remain risks to the current economic environment, including geopolitical concerns.
But, he added, 2018 is already looking like a “great year.”
“I think we are in a very fortunate period, we had a period of job disruption for technology but we are finally in the period where actually the net job changes are positive,” Thiam said.
“There’s pretty strong evidence that for every drop you lose to technology, there’s 2.4 (jobs) being created. The issue has always been whether or not they are being created at the same time or in the same place so it’s all about surviving until the 2.4 jobs materialize.”
“And this has been going on long enough that we are now in an upswing (in job creation),” he added