Jobs and Skills Australia’s latest International Labour Market Update reports a softening in the international labour markets and economies.
Drawing on recent analysis from the Organisation for Economic Co-operation and Development (OECD) and International Monetary Fund, the update notes that labour market conditions are starting to ease across many advanced economies. Both organisations report less demand for workers as economic activity moderates, contributing to slower nominal wage growth.
The OECD found global Gross Domestic Product was more resilient than expected in the first half of 2025, driven largely by stronger than forecast results in emerging economies. However, productivity gaps remain. The World Economic Forum reports that advanced economies were, on average, nearly 15 times more productive than emerging economies between 2010 and 2024.
The update also provides detailed snapshots of labour market conditions internationally, including the United States, Canada, the United Kingdom, New Zealand, Japan, the Republic of Korea and the Euro Area.
For more insights, read the full report.
If you have any questions or comments or want to know more, email: migration@jobsandskills.gov.au.
