Braking Down The News

Weak Growth, Tight Job Markets Are a Global Phenomenon

Economists cite aging populations and relatively low immigration as factors that became more pronounced during the pandemic


From Berlin to Tokyo to Wellington, economic growth is slowing or turning negative across advanced economies, yet labor markets remain historically tight.

Talk of a “jobful recession” has centered on the U.S., where payrolls grew by more than half a million in July and the unemployment rate declined to its prepandemic low of 3.5% even as economic output contracted in the three months through June. The same conundrum crops up around the world.


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