Global Economic Outlook Seems Promising for 2014
As we enter 2014, our global economy is finally entering a new phase. Recent data suggests that the uncertainty that hovered in 2013 is finally lifting, but economists are still cautious. Luckily, more people are finding work in the United States and the economy is growing at the fastest pace in two years.
China
China’s economy is slowing down after several decades of double-digit expansion. International economist Uri Dadush states, “Even with a relatively modest outlook of seven-percent growth, China continues to exert strong economic influence in the region.”
This is strong enough to benefit countries from Cambodia to Japan.
Europe
Even with recent banking reforms, Europe’s economy is still facing trouble. Commodity-dependent countries are most affected. The United State’s central bank decided to scale back monetary stimulus causing questions about the international impact. Economists are predicting the decrease of the prices of raw materials, causing the revenues of these countries to decrease. These countries include Brazil, Turkey, Hungary, and Indonesia.
Despite the overall global economy improving in 2014, some of the Arab Spring countries in the Middle East remain politically unstable causing some economic difficulties in the upcoming year. Chief of global monitoring at the United Nations, Pinfan Hong, says, “We believe some improvements are building the momentum for next year. So we expect the world economy to grow by about three-percent for 2014.”
Africa will also be doing well in 2014 with its projected growth at 5.3 percent compared to the annual pace for 4.8 percent. This growth is due to increased agricultural and mining activities.
What does this mean for job seekers? It means more jobs! As job growth returns, consumers feel more secure initiating more spending.
For more information on what this positive global economic outlook means for you, contact one of our recruiters today! Experts in placing qualified professionals in positions across the United States, let our team help you with your next job search!
Posted by Exact Staff
