Labour shortage to hit global recovery, says top economist

Global asset manager’s expert says pre-pandemic tightness in labour markets has been exacerbated by enhanced Covid-era unemployment supports

12th July, 2021
Labour shortage to hit global recovery, says top economist
Markus Schomer, the US-based economist, said there was already a tightness in labour markets before the Covid-19 pandemic hit. Picture: Pinebridge Investments

The shortage in labour will constrain the global economic recovery after the Covid-19 pandemic, a leading economist has said.

“We’re seeing labour shortages in every sector of the global economy right now,” Markus Schomer, chief economist with PineBridge Investments, a $133 billion global asset manager, told the Business Post.

“Wage supports being paid by governments are certainly fuelling this. In the US there are more advertised job openings than there...

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