As commodity prices undergo rapid corrections, the labor market is experiencing a slower recovery. While conditions are improving for employers, wage growth remains sluggish due to high interest rates and reduced hiring optimism. Regions like Europe and North America face persistent challenges, including an aging workforce and structural skill shortages. Despite some areas of stability, such as in Mexico, the overall outlook suggests a cautious approach to hiring as businesses navigate these complexities. The labor market may tighten again as demand picks up, but for now, the path to normalcy is still a long one.

Credits:

• Host: Kristen Hallam
• Guests: Emily Crowley, Director of Pricing and Purchasing, S&P Global Market Intelligence
• Produced By: Kristen Hallam, Susan Minio
• Published With Assistance From: Susan Minio, Sophie Carr, Feranmi Adeoshun

In this episode of the Decisive podcast, host Kristen Hallam is joined by David Vagenknecht and Shuchita Shukla from S&P Global Market Intelligence to explore the constraints facing the European Union's industrial sector and the potential for an industrial upcycle. They discuss the aftermath of the pandemic and the Russia-Ukraine war, highlighting persistent supply-side bottlenecks, including labor shortages and high production costs. Although some improvements have been noted, particularly in commodity prices and delivery times, demand for European goods remains weak, especially in heavy industries like construction and automotive.

The conversation delves into the uneven recovery across different sectors, the impact of geopolitical tensions, and the structural challenges posed by reduced gas imports and global competition, particularly from China.

More S&P Global Content:

• Flash eurozone PMI top five takeaways: Heightened risk of economy facing hard landing

Credits:

• Host: Kristen Hallam
• Guests: David Vagenknecht, Shuchita Shukla
• Produced By: Kristen Hallam
• Edited By: Kristen Hallam
• Published With Assistance From: Sophie Carr, Feranmi Adeoshun

In this episode of The Decisive Podcast, we dive into the upcoming G20 Summit, set to take place in November during a year filled with significant geopolitical shifts and key elections among member nations. Our experts discuss the G20's evolving role as a platform for mobilizing alliances and tackling critical global issues in our increasingly fragmented world.

Brazil, as the summit's host, may leverage this opportunity to influence conversations around economic recovery, climate action, and international cooperation. Learn more about what the priorities are for member countries including BRICS members.

More S&P Global Content:

• Global Economic Outlook: September 2024
• Emerging market growth decelerates in August while price pressures ease

Credits:

• Host: Natznet Tesfay
• Guests: Aries Poon, Laurence Allan, Carlos Cardenas, Thea Fourie
• Produced By: Kristen Hallam, Debbie Taylor
• Edited By: Resonate Recordings, Kristen Hallam
• Published With Assistance From: Sophie Carr