Q3 2020 Global Talent Market Quarterly

The global economy is projected to contract by at least 5% in 2020, its worst performance since the 1940s, due to the fallout from the COVID-19 pandemic. The extent of the economic decline (and timeline for eventual recovery) is difficult to predict. While the US unemployment rate is projected to more than double in 2020, many labor markets (particularly in Europe) have seen government-funded plans that have limited spikes in official unemployment.