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Quarterly Global Labor Market Outlook: More Tightening in the Second Half of 2019
Amid moderately slowing global economic growth, employment growth is likely to weaken in most mature economies in the coming year as lower demand for goods and services means less need for workers. While the demand for labor may be slowing in most mature economies compared to 2018, the growth rate of the working-age population is low or negative, so even moderate employment growth is enough to further pressure labor markets. Demographics in most countries ensure that labor markets will remain tight.
EXECUTIVE SUMMARY
Amid moderately slowing global economic growth, employment growth is likely to weaken in most mature economies in the coming year as lower demand for goods and services means less need for workers. While the demand for labor may be slowing in most mature economies compared to 2018, the growth rate of the working-age population is low or negative, so even moderate employment growth is enough to further pressure labor markets. Demographics in most countries ensure that labor markets will remain tight. Here are the main global and US labor market trends:
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