Economic, health and geopolitical trends have created divergent outcomes for labour markets globally in 2023.
Economic, health and geopolitical trends have created divergent outcomes for labour markets globally in 2023. While tight labour markets are prevalent in high-income countries, low- and lower-middle-income countries continue to see higher unemployment than before the COVID-19 pandemic. On an individual level, labour-market outcomes are also diverging, as workers with only basic education and women face lower employment levels. At the same time, real wages are declining as a result of an ongoing cost-of-living crisis, and changing worker expectations and concerns about the quality of work are becoming more prominent issues globally.