Conclusion
Though the global economy has performed better this year than anticipated, experts are predicting only moderate GDP growth in 2024. This is due to ongoing inflation and continued monetary policy tightening which has resulted in minimal business investment and consumer financing, a weakened global housing market and increased unsecured consumer debt.
Economists are now advising businesses to prepare for slow global economic growth for the next decade. As such, it is critical for organizations to remain focused on talent retention by capitalizing on the hybrid work model where possible and investing in automation and digital advancements like AI. Though the labor market has remained strong, the shortage for talent is ongoing and will continue for the foreseeable future.
