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As Economies Reopen, Labor Shortages Follow


July 2021 | Global Economic Outlook

This chart book shares the most important labor market trends across global labor markets and explores current trends. When the pandemic hit in early 2020, GDP and the number of jobs (or hours worked) declined dramatically across the globe. A year later, the economic and labor market outlook is much more optimistic, especially in mature economies.  Some economies are already close to being fully reopened. While the short-term economic outlook varies across regions, labor shortages may reappear sooner than employers might expect. Both recruitment and retention difficulties could rise with swift reopenings of the economy.

 


AUTHORS

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Gad Levanon, PhD

Vice President, Labor Markets
The Conference Board

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Frank Steemers

Senior Economist
The Conference Board


GLOBAL LABOR MARKET OUTLOOK CONTENT

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Our Experts

GadLevanon.jpg

Gad Levanon, PhD

Vice President, Labor Markets

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Ilaria Maselli

Senior Economist

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Elizabeth Crofoot

Senior Economist

Steemers Frank - bio picture_25april2019_website.jpg

Frank Steemers

Senior Economist

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