Template-Type: ReDIF-Paper 1.0
Author-Name: Leonardo Gambacorta
Author-X-Name-First: Leonardo
Author-X-Name-Last: Gambacorta
Author-Name: Enisse Kharroubi
Author-X-Name-First: Enisse
Author-X-Name-Last: Kharroubi
Author-Name: Emanuel Kohlscheen
Author-X-Name-First: Emanuel
Author-X-Name-Last: Kohlscheen
Author-Name: Ko Munakata
Author-X-Name-First: Ko
Author-X-Name-Last: Munakata
Title: Labour markets at a crossroads: softening trends amid elevated uncertainty
Abstract: Labour market conditions in emerging market economies remain broadly stable, but unemployment in several advanced economies is edging up, and forward-looking indicators point to further weakening. 
Cyclical forces partly explain these developments, but longer-term structural forces are also at play, including deregulation and demographic pressures (ageing, migration, participation of older workers).
Weaker labour markets may weigh on output, especially in the absence of productivity gains. In some emerging market economies, tighter conditions and stronger wage-price pass-through could raise the risk of de-anchoring inflation expectations.
Length: 8 pages
Creation-Date: 2025-09-25
File-URL: https://www.bis.org/publ/bisbull112.pdf
File-Format: Application/pdf
File-Function: Full PDF document
File-URL: https://www.bis.org/publ/bisbull112.htm
File-Format: text/html
Number: 112
Handle: RePEc:bis:bisblt:112