Deploying a global workforce and ensuring access to the best talent is a crucial component of success for many enterprises. Global labor market data is an invaluable tool for multinational HR departments and can be used to inform critical decisions around the best countries and regions in which to grow. PeopleScout, a global provider of RPO, MSP, and total workforce solutions has partnered with HRO Today magazine to produce quarterly reports that compile current international labor market figures, unemployment rates, and important trends from the world’s leading economies by country and region.
Global unemployment levels remain low once again, with 26 of the 49 countries analyzed showing levels of 5.0 percent or less. Both North America and APAC reported solid economic growth in the third quarter of 2018. EMEA showed considerably slower growth, mostly due to Germany's weakened performance. Overall, Latin America's growth went primarily unchanged since the second quarter, and Brazil, the region's largest economy, did relatively well, with unemployment falling 0.5 percent.
In the third quarter, 22 of the 49 countries analyzed in this report announced decreases in national unemployment, while 13 reported an increase since the second quarter. The remaining 14 countries went unchanged.