The global economy is projected to expand 2.6 percent in 2019, lower than in recent years due to global trade concerns between the U.S. and China, Brexit, and recessions in various European countries.
However, the global labor market remains tight with around half (25 of the 49) countries analyzed in this report showing levels of 5.0 percent or less, which is considered by many economists as at or near full employment, about the same as Q2 2019 findings.Â
In the United States, stocks finished a volatile quarter up, marking the third straight positive quarter. Both the S&P 500 and the Dow Jones Industrials increased by 1.2 percent within the quarter.
The International Monetary Fund (IMF) stated that “the global economy is in a synchronized slowdown” with about 90 percent of the world economies slowing. While the global labor market is witnessing major imbalances with tighter labor markets, trade policies are forcing shifts away from normally globally reliant industries, and automation. Countries are scrambling to appropriately reskill their workforce. Manufacturing has been affected by all those shifts.
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