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World – Unemployment levels to drop by 2015

27 June 2013

Kelly Services Inc. (NASD: KELYA, KELYB) released it Global Talent Market report, predicting modest but stable growth in 2013, before improving in 2014-2015. Emerging markets in China, India, and Brazil are expected to continue to perform well, economically, with Russia expected to pick up in 2014, but slowdown in 2015. Kelly also predicts that most European markets will climb out of recession by 2015.

The improving economic outlook is expected to result in falling unemployment in most regions. Across the Americas, unemployment is expected to fall most dramatically in the United States, dropping from 8.1% in 2012 to 6.7% predicted in 2015. Unemployment in Canada and Mexico is also expected to fall continuously in the run up to 2015, with an estimated expected level of 6.7% in Canada and 4.2% in Mexico. Brazilian unemployment levels are not expected to change much over the next two years. 2012 unemployment sat at 5.5% and is predicted to drop in 2014 to 5.3%, before rising slightly in 2015.

In Europe, Middle East and Africa employment recovery is expected to take longer than in other regions. Germany and Russia are expected to outperform other regional labour markets. German unemployment levels, currently sitting at 6.8%, are close to record lows and predicted to fall even further, hitting 6.3% in 2015. Russian unemployment in 2012 was 5.5% and is expected to fall to 5% by 2015. Unemployment levels in France have risen every month for nearly two years, reaching a 16-year high in 2013 at 10.9%. Unemployment levels in France are expected to rise even higher throughout 2014, reaching a new record of 11.2%. A slight dip is predicted in 2015, when unemployment will drop slightly to 11.1%.

Asia – Pacific employment demand is expected to accelerate as the global economic crisis brightens. Levels in Japan and China are not expected to be the least volatile in the period to 2015. Japanese unemployment figures for 2012 put unemployment at 4.3% and this is expected to rise to 4.6% in 2015. Chinese unemployment levels are expected to fall from 4.1% in 2012 to 3.9% in 2015. Regionally high levels of unemployment in India, recorded at 8.5% in 2012, are predicted to drop to 7.7% by 2015. Challenges in the Australian employment market are expected to continue throughout 2013, with unemployment levels rising +0.4%, from 5.2% in 2012. Levels are predicted to drop steadily in 2014 before reaching 4.9% in 2015.  

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