Global GDP growth is expected to be somewhat constrained at around 2.6% in 2015, as the Chinese economy continues to cool down and several large emerging markets including Brazil and Russia are in recession. Most large developed economies are expected to see moderate growth in 2015, with strengthening recoveries in the Eurozone and Japan, and healthy growth after a weak first quarter in the United States.
The labor market outlook in most of the Eurozone is improving as economies begin to recover, while employment gains in North America, Germany, and the U.K. are expected to drive ongoing declines in unemployment. In Russia and the large South American markets, difficult economic conditions are leading to rising unemployment. Stable job creation trends will keep unemployment rates steady in most major APAC markets in the coming years.
Finding and retaining talent amid growing skills shortages and changing workplace dynamics has become one of the most critical issues facing global business leaders today. Organizations are beginning to recognize the importance of taking a more holistic approach to talent acquisition and management, as well as embracing new ways to connect with talent.
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