While the global economy works to reach pre-pandemic levels, the combination of a struggling supply chain and increased demand for workers has created the perfect storm for current job seekers. On the flip side, hiring teams are faced with navigating wage inflation and a labor deplete market as they work to recruit top talent.
Luckily for the economy, this has resulted in a decline in global unemployment rates – down 0.47 percentage points from the third quarter of 2021 to 5.4 percent in the fourth quarter.
But will this rebound last through the rest of 2022? What do these numbers indicate about the future of the Global Labor Market?