Reviving Vitality Amid Uncertainty in Asia
- With 2018 Pay Increase Forecast
By mid of 2017, the Federal Reserve has raised interest rates for a couple of times, indicating the central bank’s confidence in the U.S. economic recovery along with the improving employment situation. The confidence in the U.S. market brightens the expectation of 2018 global performance. The Euro area also sees shared recovery among its members, bringing with it more jobs and opportunities. Hence, the world’s growth is forecasted to be 3.5%, which is 0.2% higher than that in 2017. The inflation rate is estimated to go up by 0.3% to 3% while global unemployment rate will remain stable at 5.8%.
Although the protracted period of weak global has impacted employment, wages and household welfare in earlier 2010s, led to a slowdown in household consumption growth, nations are keen on creating plenty of opportunities during the recovery phase for more frequent economic and trade activities among continents and countries, enabling a progressive economic growth and employment.