Workers are set to have an upper hand in the job market as demographic changes make it harder for employers to hire and retain staff, according to a new study by economists at Glassdoor and Indeed.
An aging population and reduced immigration have led to a smaller pool of workers overall, according to the joint report, which analyzed employment trends across the U.S., Canada, France, the U.K., Germany, Australia, Japan and China. As a result, staffing in certain industries will remain challenging for years to come.
Fears of a potential recession next year may temporarily curb businesses¡¯ hiring in the short term, the report said, with recent mass layoffs at tech giants like Meta Platforms and Amazon.com sending shock waves through the industry. But long-term effects are likely to skew market power toward job-seekers, according to the study.
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