Even if an economic downturn were to materialize, labor markets will likely remain tight and companies will find it harder to hire and retain employees, according to a new joint report by Indeed and Glassdoor.
“The economies of many countries could slow or even fall into recession as central banks work to lower inflation. But even if employers’ hiring appetites fade, the supply of workers seems likely to remain tight in the long run,” the Hiring and Workplace Trends Report 2023 said. “Not only will hiring be more difficult, but workers will have more power to demand changes.”
“The principal reason for this can be summed up in one word: demographics. Over the next decade, the number of people of working age (between 15 and 65) will decline in a variety of countries, according to World Bank projections.”…