As commodity prices undergo rapid corrections, the labor market is experiencing a slower recovery. While conditions are improving for employers, wage growth remains sluggish due to high interest rates and reduced hiring optimism. Regions like Europe and North America face persistent challenges, including an aging workforce and structural skill shortages. Despite some areas of stability, such as in Mexico, the overall outlook suggests a cautious approach to hiring as businesses navigate these complexities. The labor market may tighten again as demand picks up, but for now, the path to normalcy is still a long one.

Credits:

• Host: Kristen Hallam
• Guests: Emily Crowley, Director of Pricing and Purchasing, S&P Global Market Intelligence
• Produced By: Kristen Hallam, Susan Minio
• Published With Assistance From: Susan Minio, Sophie Carr, Feranmi Adeoshun