Issue link: https://read.uberflip.com/i/1490815
Global QMR Q4 2022 | 5 Global Workforce Trends • Ongoing talent and skills shortage, concerns of a global recession, inflation, interest rate and economic uncertainty have been leading themes in 2022 and still are as we begin 2023 • Significant demographics shifts, aging workforce, and historically high number of unfilled openings in many countries • Hiring demand slowed down across almost all countries in Q4 2022 but remained positive YoY • Internal mobility is becoming an increasingly important priority within organizations around the world for talent retention Changes between Q4 2021 & Q4 2022… Demand for blue collars/light industrial workers Demand for IT professionals Sources: Gartner Talent Neuron, EOCD, Global Data Global hiring demand Unemployment rate in the EOCD • Decreased to 6.16% in 2021 (from 7.16% year prior). • The unemployment rate in the OECD remained at 4.9% in Oct 2022, the fifth consecutive month at this record low rate since the start of the series in 2001. • In the euro area, decreased by 0.1% to 6.5% in Oct, reaching its lowest level since the start of the series in 1990. Rate stable or decreased in more than 80% of euro area countries, with the largest declines observed in Austria, Finland, Greece, and Spain. • Outside Europe, the unemployment rate fell in Australia, Colombia and Costa Rica and was stable in Canada, Japan, Korea and Mexico. Inflation • The United States saw the highest inflation in 40 years in 2022, while the Eurozone is seeing the highest inflation since the EU and the euro were created, both regions are several months of near or over 10% inflation in 2022. • The average consumer price inflation in the Asia-Pacific region was 3.6% in 2022. Changes between 2021 & 2022… - 4% - 6% - 9% +12% +9% +5%