Chicago – April 12, 2019 – SharedXpertise, publisher of HRO Today Magazine, and PeopleScout, the world’s largest RPO provider and the No. 1 Managed Service Provider on HRO Today’s MSP Baker’s Dozen Customer Satisfaction Ratings since 2016, have partnered to release the Global Unemployment Report for the fourth quarter of 2018.
Throughout 2018, there was generally positive economic growth worldwide. The global unemployment rate fell to 5.2 percent, its lowest level in nearly 40 years. Of the 49 countries included in the study, 25 countries reported unemployment rates at or below 5.0 percent, which many economists consider to be at or near full employment. “Global unemployment is at its lowest rate since the 1970s,” said Larry Basinait, vice president of market research for SharedXpertise. “This can be attributed to changes in the workforce, including flexible working practices and the advent of the gig economy, as well as economic forces like low interest rates.”
Due to the size and significance of the U.S. economy, the report also breaks down unemployment rates by state. Overall, 25 states reported statistically significant decreases in unemployment rate in 2018. Economic growth in the United States, however, did slow down in the fourth quarter, compared to earlier in 2018. According to the Bureau of Economic Analysis, real GDP in the U.S. increased by 2.6 percent, which is a deceleration from the robust 3.4 percent in the third quarter.
“Employers may be wise to embrace a degree of caution heading into 2019,” continues Mr. Basinait. “Elevated trade tensions, financial market pressures in emerging markets and softening manufacturing activity can all have adverse impacts on employment rates.”
PeopleScout, a TrueBlue company, is the world’s largest RPO provider managing talent solutions that span the global economy, with end-to-end MSP and talent advisory capabilities supporting total workforce needs. PeopleScout boasts 98% client retention managing the most complex programs in the industry. The company’s thousands of forward-looking talent professionals provide clients with the edge in the people business by consistently delivering now while anticipating what’s next. Affinix, PeopleScout’s proprietary talent acquisition platform, empowers faster engagement with the best talent through an AI-driven, consumer-like candidate experience with one-point ATS and VMS integration and single sign-on. Leveraging the power of data gleaned from engaging millions of candidates and contingent associates every year, PeopleScout enhances talent intelligence for clients across more than 70 countries with headquarters in Chicago, Sydney and London and global delivery centers in Toronto, Montreal, Charlotte, Bristol, Krakow, Gurgaon and Bangalore. For more information, please visit www.peoplescout.com.
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