Q3 2013 - Global Talent Market Quarterly
The Global Talent Market Quarterly provides a summary of the current economic and labor market conditions around the world and gives insight into how they might impact you.
- The global economy remains sluggish in mid-2013, as the underlying growth patterns have shifted somewhat. Key emerging markets including China have shown some softness in recent months, while the outlook in many large developed economies is brighter. Labor market conditions and forecasts are just as varied, with many developed markets showing more positive trends and emerging markets more subdued.
- Five years after the global financial crisis, the challenges and opportunities in labor markets worldwide remain significant. Today’s global employment rate is estimated at 55.7%—with a global net deficit of around 14 million jobs relative to the pre-crisis employment level. Although full employment recovery is still several years away, pockets of high demand exist and will begin to exacerbate skills shortages. The trend towards more flexible labor markets and more non-traditional workstyles also continues to accelerate, making talent management strategies more important than ever.