Global labour markets remain tight despite decline in job postings

In a recent research report, the United Nations highlighted that labour markets in advanced economies remained tight, with unemployment rates hitting record lows in the first four months of 2024. 

However, analysis from the Organisation for Economic Cooperation and Development (OECD) shows signs of a softening of the labour market, including a decline in job postings between February and May 2024 in Australia and several other developed countries. This drop aligns with other analysis indicating that job vacancies have fallen across most advanced economies throughout the year.

Despite these shifts, the OECD report also revealed that women have outperformed men in the labour market since the pandemic, particularly in countries like Australia, Japan and South Korea, where employment growth for women has been notably strong.

Read more about it the August ILMU.

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