Healthy global labor markets

Healthy Global Labor Markets

Helping to fuel strengthening consumer consumption

Healthy Global Labor Markets

At the same time that in-store sales activity continues to build momentum in a post-COVID world, we’re also seeing continued and broad-based strength in global labor markets. Employment growth has been healthy on a global basis, with 29 of the 35 economies closely tracked by Hines Research posting positive year-over-year (YoY) growth as of 1Q2024. Not surprisingly, wage growth has followed a similar trajectory.

Key Takeaway


Positive economic trends, including increasing wage growth and strong private consumption, could indicate that better days are ahead for the retail sector.


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In fact, the most recent YoY growth in wages is outstripping the 10-year average in all three major global regions. Meanwhile, private consumption continued to trend positively around the globe.

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Disclaimer


The content herein and in the report is provided for informational purposes only. Nothing above or in the report constitutes investment, legal, or tax advice or recommendations. Such content should not be relied upon as a basis for making an investment decision and is not an offer of advisory services or an offer to invest in any product or asset class. It should not be assumed that any investment in an asset class described herein will be profitable. Any projections, estimates, forecasts, targets, prospects and/or opinions expressed in these materials are subject to change without notice. Opinions or beliefs expressed in these materials may differ or be contrary to opinions expressed by others. Certain information above and in the report has been obtained from third-party sources. Hines has not independently verified such information.


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