Dynamics across the European labour market is fading and slowing down, Denis Machuel, CEO of the Adecco Group, said in an interview at the World Economic Forum in Davos. Machuel added that he sees “solid dynamics” in Asia while the US trend is located “somewhere between Europe and Asia,” AWP Swiss News reported.

The short-term weakening does not change the long-term trend of labour shortage, which is explained by the aging of the population and the need for greater balance between professional and personal life. Earlier this week, Machuel shared his thoughts on AI and said it is poised to deeply impact employment worldwide. Machuel noted that workers have real fears of losing their jobs in the face of the rise of artificial intelligence. It is not a job killer in itself, he said. But companies must invest in staff in order to maintain their long-term employability, he said.