Significant Changes in the Labour Markets assesses trends in consensus forecasts for wage variables and unemployment in six of the major economies surveyed. We also look at how wage and unemployment trends are shaping up for 2014. As the US chart illustrates, the 2013 unemployment forecast has been on a downward bent since October after plateauing for much of 2012. This comes on the back of steady gains in payrolls. Next year's projection for the jobless rate has also dipped and employment costs are expected to pick up again.
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