The U.S., Germany, and Canada lead a new ranking of labor market tightness among 12 major economies as a combination of low wages and a lack of skilled workers has left many jobs unfilled, according to a new global report by job site Indeed.
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More than one quarter of jobs in the U.S. are still open after 60 days, and in Germany and Canada it’s about one-fifth of jobs, as these developed markets work to move from economic recovery to expansion.
“The mismatch between employers and job seekers is weighing on productivity, partially explaining a missing spark from the global recovery thus far,” said Indeed Chief Economist Tara Sinclair, author of the report titled Labor Market Outlook 2016: Uncovering the Causes of Global Jobs Mismatch.
“There is still time for these markets to hire workers and boost growth, but it will take increased wages along with skilled workers taking in-demand roles, two areas that have underperformed throughout the recovery.”