AgileOne-2026年大重构：人力解决方案市场展望报告-

OUTLOOK2026

WORKSOLUTIONSMARKETOVERVIEW

THEGREAT

RECALIBRATION:

FINDINGTALENT

inaLaborMarketontheMove

THEGREATRECALIBRATION:FINDINGTALENTINALABORMARKETONTHEMOVE

TABLEOFCONTENTS

AboutThisReport 2

AboutAgileOne 3

U.S.Overview 4

EuropeOverview 7

IndiaOverview 12

LatinAmericaOverview 14

MiddleEastOverview 16

TopSolutions 18

1

THEGREATRECALIBRATION:FINDINGTALENTINALABORMARKETONTHEMOVE

ABOUTTHISREPORT

Entering2026,thegIobaIIabormarketisonceagaininflux.AfterseveraIyearsofvoIatiIity,signsofbaIancearebeginningtoemerge.Inflationiseasing,hiringdemandiscooIing,

andautomationcontinuestoredefinetheskiIIsempIoyersneedmost.Acrossindustries,

organizationsarerecaIibrating:figuringouthowtoattract,train,andretaintherighttaIentinaworIdwheretechnoIogy,demographics,andgeopoIiticsareaIIshiftingatonce.

12-monthpercentagechange,ConsumerPriceIndex,intheU.S.1

AIIitems,notseasonaIIyadjusted

Percent

10.0

5.0

0.0

-5.0

SeptSeptSeptSeptSeptSeptSeptSeptSeptSeptSept20052007200920112013201520172019202120232025

IntheUnitedStates,hiringhasIeveIedoff,andunempIoymenthastickedupwardsincethebeginningoftheyear.InflationhasfaIIento2.7percentandwagegrowthisstabiIizing,asbusinessesseektoregaintheconfidencetopIanaheadafteryearsofuncertainty.

1ConsumerPriceIndexSummary—November2025,BureauofLaborStatistics,December18,2025

AcrossEurope,thepictureisvaried.TheUKandIreIandareseeingsIowerjobcreation

butreIativeIystrongwagegains,whiIetheNetherIandsandDACHregion(Germany,

Austria,andSwitzerland)continuetowrestlewithtightlabormarkets,agingpopulations,andskiIIshortagesinengineering,heaIthcare,andtechnoIogy.Companiesare

respondingbydoubIingdownonreskiIIing,digitaItraining,andworkforcemobiIity.

Thoughgrowthhassoftened,demandforspeciaIizedtaIent,especiaIIyingreenenergyanddigitaIinfrastructure,remainsresiIient.

InIndia,IaborsuppIyissurging,poweredbyoneoftheworId’sfastest-growingworking-agepopuIations.MuItinationaIscontinuetoexpandtheirpresencethere,buiIding

advancedtechnoIogyandR&DhubsthathandIecompIex,high-vaIueworkonce

reservedforWesternmarkets.MeanwhiIe,LatinAmerica,IedbyBraziI,showsadifferentkindofmomentum:record-IowunempIoyment,butpersistentinformaIity.Converting

thatinformaIworkforceintostabIe,Iong-termempIoymentremainsoneoftheregion’sbiggestchallenges.

FinaIIy,theMiddIeEastischartingitsownpath.WithoneoftheIowestunempIoyment

ratesgIobaIIy,theUAE’smixofexpatriateandIocaItaIentreflectsabaIancingact

betweendiversificationandincIusion.Theregion’sfocusoninnovation,sustainabiIity,and

futureskiIIsispositioningitasakeypIayerinthegIobaIIaborstory.

Taken忄oge忄her，忄hesemarke忄srevealamomen忄ofrecalibra忄ion.

Growthissteadier,competitionforskiIIsremainsfierce,andthedemandforadaptabIe,future-readytaIenthasneverbeenhigher.InthiseIeventheditionofAgiIeOne’sWorkSoIutionsMarketOverview,weexpIoreIabormarkettrendsacrosstheUnitedStates,

Europe,India,LatinAmerica,andtheMiddIeEast,andhowforward-IookingworkstrategiescanheIporganizationsturnuncertaintyintoIong-termadvantage.

2ConsumerPriceIndexSummary—November2025,BureauofLaborStatistics,December18,2025

2

THEGREATRECALIBRATION:FINDINGTALENTINALABORMARKETONTHEMOVE

ABOUTAGILEONE

Whenyou’refacingthepressureofmanagingyourworkforce,AgileOneisatyour

side.Asasingle,trustedpartner,wedelivercomprehensiveworksolutionsleveragingthebestofthebest,combinedwithourtechnologyexpertise,consultingservices,andexceptionaldeliveryteamstomeetallyourtalentattractionandmanagementneeds.

Wehelpcompaniesmanagetheunexpectedthroughacomprehensivesuiteofworksolutions:

•RecruitmentProcessOutsourcing(RPO):OurRPOservicesprovidescalablehiringsupport,ensuringbusinessesattracttoptalentwhileimprovingefficiencyandreducingcosts.

•ManagedServiceProvider(MSP):Fororganizationsmanagingexternallabor,ourMSPprogramsoptimizecontingentworkforcestrategies,leveragingtechnologyandsuppliermanagementtodrivecostsavingsandcompliance.

•StatementofWork(SOW)Management:Wehelpbusinessesgainvisibilityandcontrol

overproject-basedlabor,ensuringbetterbudgetalignmentandworkforceperformance.

•ContingentWorkSolutions:Ourexpertiseensuresbusinesseshaveaccesstoflexibletalentpools,helpingthemscaletheirworkforcebasedondemand.

•DirectSourcing:Weenableclientstobuildandmanagetheirowncuratedtalentcommunities,leveragingemployerbrandandtechnologytoattractandredeployhigh-qualitycontingenttalentefficiently.

•ServicesProcurement:Westreamlinetheprocurementofservice-basedengagements,suchasconsulting,creative,orITprojects,ensuringcompliance,costtransparency,andalignmentbetweendeliverablesandbusinessobjectives.

in/company/agileone/agileoneglobal/

3

THEGREATRECALIBRATION:FINDINGTALENTINALABORMARKETONTHEMOVE

U.S.OVERVIEW

Despiteaclearslowdowninhiring,theU.S.labormarketremainsorderlyandrelativelystable.InNovember,totalnonfarmpayrollsincreasedbyjust64,000jobs,extendingapatternofminimalnetjobgrowththathaspersistedsincethespring.Theunemploymentratestoodat4.6percent—littlechangedinrecentmonths,buthigherthanayearago—signalingagradualeasingratherthanasharpdeteriorationinlabormarketconditions.Atthesametime,wagegrowthhasalsocontinuedtocool.AveragehourlyearningsrosemodestlyinNovember,increasing0.1percentmonthovermonthand3.5percentyear-over-year,significantlyslowerthantherateofincreaseduringtheheartofthepost-

pandemicinflationaryperiod.3

InNovember,headlineinflationfellto2.7percentyear-over-year,asignificantdeclinefromthehistorichighof9.1percentreachedin2022.4

Againstthisbackdrop,financialconditionshaveloosenedincrementally,helpingsupport

consumerdemandevenashiringmoderates.InNovember,headlineinflationfellto2.7

percentyear-over-year,asignificantdeclinefromthehistorichighof9.1percentreachedin2022.5Respondingtoshiftingmacroeconomictrends,theFederalReservehastrimmedratesthreetimesin2025afteranextendedperiodofrestrictivemonetarypolicy.6Thecutsmarkasymbolicturningpoint,signalingthatinflationarypressuresareviewedasmore

containedandthatpolicymakersarepreparedtostrikeabalancebetweenpricestabilityandsustainedgrowth.Thishasthepotentialtogiveemployersslightlymorebreathing

roomastheynavigateaslower,butstillexpanding,labormarket.

3EmploymentSituationSummary—November2025,U.S.BureauofLaborStatistics,December16,2025

4

4ConsumerPriceIndexSummary—November2025,BureauofLaborStatistics,December18,2025

5ConsumerPriceIndexSummary—November2025,BureauofLaborStatistics,December18,2025

6FederalReserveissuesFOMCstatement,BoardofGovernorsoftheFederalReserveSystem,December10,2025

THEGREATRECALIBRATION:FINDINGTALENTINALABORMARKETONTHEMOVE

GlobaltariffratesonU.S.importsasofDecember20257

ReflectstheadditionaladvaloremtariffrateonU.S.importssinceJanuary2025

Tradepolicyandimmigrationhaveemergedascriticalforcesintroducingnewuncertaintyintothelabormarket.Tariffsimplementedin2025haveraisedtheU.S.averageeffectivetariffratetoashighas18.2percent,representingthehighestratesincetheearly1930s.

Recentpoliciesalonehavegenerated$88billioninnewtariffrevenuesyear-to-date,increasingcostsforindustriesthatrelyonimportedintermediategoods.8Meanwhile,immigrationinflowshavewaned:immigrantrepresentationinthelaborforcefellfromabout20percentearlyin2025toroughly19percent,representingadropofover

750,000workerssinceJanuary.9Netinternationalmigrationin2025isprojectedtohavelandedaround1million,1.6millionlessthanin2024and2.5millionlessthanin2023.10

7TrumpTariffTracker,AtlanticCouncil,August27,2025

5

Thecombinedeffectsofhighertariffsanddecliningimmigrationarecontributingto

moreconstrainedhiringinsectorssuchasconstruction,agriculture,healthcare,andmanufacturing,evenasdemandremainsbroadlystable.

Broadereconomicshiftshaveeasedlabormarkettightness,bringingconditionscloser

tobalance,awelcomedevelopmentforemployers.AsofOctober,employerslisted7.7

millionjobopenings,essentiallymatchingthe7.6millionunemployed.Thistranslatestoanopenings-to-unemployedratioofroughly1.0,contrastingwiththemuchtighterconditionsof2022and2023.11Searchtimeshavelengthened,too:inAugust,25.7percentofthe

unemployedhadbeenoutofwork27weeksormore.12Theresultisamarketwithlesschurnandmoremeasuredrecruitment,ratherthanbroad-basedlayoffs.

8Short-RunEffectsof2025TariffsSoFar,TheBudgetLabatYale,September2,2025

9WhatthedatasaysaboutimmigrantsintheU.S.,PewResearchCenter,August21,2025

10UpdatedEstimatesofNetInternationalMigration,FederalReserveBankofSanFrancisco,July17,2025

11JobOpeningsandLaborTurnover—October2025(PDF),U.S.BureauofLaborStatistics,December9,2025

12Long-termunemployedaccountedfor25.7percentofallunemployedpeopleinAugust2025,U.S.BureauofLaborStatistics,December9,2025

Top10occupationalgroupsprojectedtogrowthefastest13

Projectedpercentchange,2024-34

Healthcaresupport ComputerandmathematicalHealthcarepractitionersandtechnical CommunityandsocialserviceManagement

ArchitectureandengineeringBusinessandfinancialoperations

ConstructionandextractionLife,physical,andsocialscience

Installation,maintenance,andrepair

12.4%

10.1%

7.2%

6.6%

6.1%

5.3%

5.2%

5.2%

5.0%

4.6%

Total,alloccupations=3.1%

Acloserlookbeneaththesurfacerevealsthatjobgainsremainconcentratedinanarrowsetofserviceindustries,yetfarmorefragileingoods-producingindustriesandcertain

segmentsofthepublicsector.InNovember,healthcareonceagainledtheway,addingapproximately46,000positionsacrossambulatoryservices,hospitals,andnursingcarefacilities.Socialassistancealsocontinueditssteadyclimb,contributingabout18,000jobsasdemandforcommunity-basedservicespersists.Offsettingthesegainsweredeclinesinthefederalgovernment,followingasharpdeclineof162,000jobsinOctober,assomefederalemployeeswhoacceptedadeferredresignationoffercameofffederalpayrolls.Themanufacturingsectorhasalsolostapproximately70,000jobsinthepast12months,withmuchofthisdeclineoccurringsinceApril.14

13Top10occupationalgroupsprojectedtogrowthefastest,BureauofLaborStatistics,August28,2025

14EmploymentSituationSummary—November2025,U.S.BureauofLaborStatistics,December16,2025

THEGREATRECALIBRATION:FINDINGTALENTINALABORMARKETONTHEMOVE

U.S.datacenterdemandcouldtripleby2030,implyingmulti-trillion-dollar

cumulativeinvestmentneedsacrosspower,construction,networking,and

cloudoperations.15

Atthesametime,technologyinfrastructureisexertingaclearstructuralpullonspecializedtalentandcapital.IndustryanalysesindicateU.S.datacenterdemandcouldtripleby2030,implyingmulti-trillion-dollarcumulativeinvestmentneedsacrosspower,construction,

networking,andcloudoperations.16Capitalmarketshaveresponded:datacenter-linkedsecuritizationssurpassed$9billioninthefirstmonthsof2025,evenasanalystsnote

executionriskssuchashardwaredepreciationandlease-renewalexposure.17Thesefactshelpexplainthestrongdemandfornicheskillsamidotherwisecooleraggregatehiring.

Tokeepcapacityalignedwithworkloadamidongoingchangesinthelabormarket,

employersareleaningoncontingentstaffing.Flexibleprograms,suchasthoseprovidedbyAgileOne,enableteamstoscaleupordownquickly,coverseasonalspikesandleavebackfills,andtapintohard-to-findskillswithoutincurringlong-termfixedcosts.For

defined,time-boundinitiatives,Statement-of-Work(SOW)staffingprovides

deliverable-basedengagementswithscopedmilestones,qualitythresholds,and

predictablebudgetsthatarewell-suitedtocloudmigrations,complianceremediation,facilityretrofits,andAI/datacenterdeployments.Usedtogether,contingentandSOWmodelsprovideafact-basedapproachtomaintainingoperationalagilityamidslowerpayrollgrowth,anear-balancedopenings-to-unemployedratio,andlowerpolicyrates.

15Thedatacenterbalance:HowUSstatescannavigatetheopportunitiesandchallenges,McKinsey&Company,August8,2025

16Thedatacenterbalance:HowUSstatescannavigatetheopportunitiesandchallenges,McKinsey&Company,August8,2025

17Datacenters:Managingriskamidamarketboom,Moody’s,May15,2025

6

THEGREATRECALIBRATION:FINDINGTALENTINALABORMARKETONTHEMOVE

EUROPEOVERVIEW

UKANDIRELAND

TheUKlabormarketisshowingsignsofsoftening,butcontinuestodemonstrateresilienceinthefaceofeconomicheadwinds.Theunemploymentrateroseto5.1percentbyfall2025,itshighestlevelinnearlythreeyears,reflectingacoolinginhiringacrossmultiplesectors.

Employmentamongthoseaged16–64heldsteadyataround75percent,supportedby

growthinhealth,socialcare,andprofessionalservices,evenascyclicalsectorsretrenched.Meanwhile,thenumberofjobvacancieshasfallenprecipitouslyoverthepastfouryears,toroughly729,000openingsintheperiodofSeptembertoNovember,signalingthatemployersareproceedingmorecautiouslyafterseveralyearsofintenselaborshortages.Whilethe

paceofhiringhasslowed,thelabormarketremainstighterthanitspre-pandemicbaseline,atestamenttotheunderlyingstrengthofUKemploymentfundamentals18

NumberofvacanciesintheUK,seasonallyadjusted19

Thousands

1,500

1,000

500

0

SeptoNov2009SeptoNov2013SeptoNov2017SeptoNov2021SeptoNov2025

18Labourmarketoverview,UK:December2025,OfficeforNationalStatistics,December16,2025

7

19Labourmarketoverview,UK:December2025,OfficeforNationalStatistics,December16,2025

THEGREATRECALIBRATION:FINDINGTALENTINALABORMARKETONTHEMOVE

Despitetheseshifts,wagegrowthhasprovenremarkabIysticky.AverageweekIyearningsgrewbyroughIy5.7percentyear-over-year,asbusinessescontinuetocompeteforskiIIedworkersdespitewaningdemand.20ThisdynamichascreatedacompIicatedpoIicypuzzIefortheBankofEngIand:inflationarypressurespersistevenasjobcreationcooIs,IeavinginterestrateshigherforIonger.

Atthesametime,economicinactivity,currentIy21percentamongworking-ageaduIts,hasedgedIowerbutremainsabovepre-2020IeveIs,reflectingIong-termiIIness,earIyretirements,andcareresponsibiIitiesthatcontinuetoIimitavaiIabIeIaborsuppIy.21

Acrosssectors,thecompositionofjobgrowthisshifting.HeaIthandsociaIworkaddedthemostnewpositionsintheyeartoNovemberforanincreaseofnearIy31,000jobs,accordingtothe

OfficeforNationaIStatistics.MeanwhiIe,demandhascooIednotabIyinaccommodation,food,

andpartsofeducation,highIightingaIabormarketthatisrebaIancingawayfromconsumer-facingsectors.22Long-termgrowthprospectsarebeingshapedbytheUK’sambitiontoaddupto70,000newIifesciencesjobsby2035.23Thisstrategicfocus,coupIedwithinvestmentinAI,cIeanenergy,

andadvancedmanufacturing,pointstowardafutureeconomywhereinnovationsectorsanchorempIoymentstabiIity.However,withpayroIIempIoymentdecIiningbyroughIy164,000overthe

pastyear,it’scIearthatthetransitionwiIIrequiresustainedpoIicysupportandworkforcereskiIIingtoensuredispIacedworkersaren’tIeftbehind.24

Year-over-yearchangeinpostedwages25

Despitesofterhiringdemand,wagegrowthremainsresiIientintheUKandIreIand

Ireland

UnitedKingdom

↑Year-overyear-change(%)

8

7

6

5

4

3

2

1

0

AprJulOctJanAprJulOctJanAprJulOctJanAprJulOctJanAprJulOctJanAprJulOctJanAprJulOct

2019202020212022202320242025

20September2025UKLabourMarketUpdate:CooIingJobMarketFaiIstoDentPayGains,IndeedHiringLab,September26,2025

21Labourmarketoverview,UK:December2025,OfficeforNationaIStatistics,December16,2025

22Labourmarketoverview,UK:December2025,OfficeforNationaIStatistics,December16,2025

23LifescienceswiIIneed70,000newjobsby2035,UKBioindustryAssociation,March5,2025

24LabourMarketAnaIysis:August2025,Learning&WorkInstitute,August2,2025

25IndeedWageTracker,Indeed,August1,2025

8

Ataregionallevel,LondonandtheSouthEastcontinuetooutperforminhigh-wagejobcreation,whilenorthernEnglandandpartsofWalesandScotlandareseeingslower

recoveries.Tightlabormarketsinprofessionalandtechnicaloccupationscontrast

withpersistentshortagesinpublic-sectorandserviceroles,particularlyineducation,

healthcare,andsocialcare.26Thisunevenrecoveryispromptingmanylocalauthoritiestofocusonplace-basedlabormarketstrategies,integratingskillsprograms,transportimprovements,andhousingpolicytoattractandretainworkers.Byaligningworkforce

developmentwithbroaderspatialandeconomicplanning,theseregionsaimto

strengthenlocaltalentpipelinesandensurethatgrowthismoreevenlydistributedacrossthecountry.27

AcrosstheIrishSea,Ireland’slabormarketremainsoneofthestrongestin

Europe.Full-timeemploymentroseby34,800year-over-yearinQ32025,

bringingtotalemploymenttoroughly2.82millionpeople.28

AcrosstheIrishSea,Ireland’slabormarketremainsoneofthestrongestinEurope.

Employmentroseby65,700year-over-yearinQ22025,bringingtotalemploymentto

roughly2.81millionpeople.29Theunemploymentratestandsat4.6percent,amodest

increasefrom2024.Meanwhile,GDPisprojectedtohavegrownby10.7percentin2025,wellabovetheEuropeanaverage,reflectingstrongexportactivityinthefirsthalfof

theyear.Growthisbeingdrivenbystrongdomesticdemandandaresilientexportbaseinpharmaceuticals,medtech,andprofessionalservices.30Yetskillsshortagesremainadefiningconstraint,especiallyindigital,STEM,andgreeneconomyroles.Foremployers,Ireland’soutlookremainshighlyfavorable;however,continuedinvestmentintraining,

housing,andregionalinfrastructurewillbecrucialtosustainingitsmomentum.

26Labourmarketoverview,UK:September2025,OfficeforNationalStatistics,September16,2025

27Employmentandskills:Theevolvingroleoflocalgovernment,LocalGovernmentAssociation,July25,2025

28TánaisteandMinisterBurkewelcomelatestfiguresshowingfurtheremploymentgrowthinthirdquarterof2025,DepartmentofEnterprise,TourismandEmployment,November20,2025

29TánaisteandMinisterBurkewelcomelatestfiguresshowingfurtheremploymentgrowthinthirdquarterof2025,DepartmentofEnterprise,TourismandEmployment,November20,2025

30EconomicforecastforIreland,EuropeanCommission,November17,2025

9

8

6

4

2

0

THEGREATRECALIBRATION:FINDINGTALENTINALABORMARKETONTHEMOVE

NETHERLANDS

TheDutchlabormarketremainsoneofthetightestinEurope,thoughmodestsignsof

coolinghavebeguntoemerge.Theunemploymentratestoodat4percentinOctober,ahistoricallylowlevelthatreflectsbothstrongdomesticdemandandongoingstructural

constraintsinthesupplyoflabor.31Evenso,thegapbetweenjobvacanciesandavailableworkershasstartedtonarrow,withtheeconomyreflectingmoreunemployedpeople

thanopenvacanciesforthefirsttimeinfouryears.Morethanhalfofopenvacancies

areinretail,healthcare,andbusinessservices,withconstructionalsofacingasignificantshortageandthehighestvacancyrate.Asofthefirstquarterof2025,theNetherlands

stillreportedmoreopenpositionsthanjobseekersinseveralkeyindustries,particularlyinhealthcare,education,logistics,andICT,buttheratioofvacanciestounemployedpersonshasdriftedclosertoparity.32

Theincreaseinnegotiatedwagesin2024wasthehighestinmorethan40years33Year-on-yearpercentagechange

lll

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025*

*Provisionalfigures

31UnemploymentrateupinAugust,StatisticsNetherlands,September18,2025

32MoreunemployedpeoplethanvacanciesinNetherlandsforfirsttimein4years,NLTimes,October30,2025

33NegotiatedwagesroselesssharplyinQ3of2025,StatisticsNetherlands,October2,2025

THEGREATRECALIBRATION:FINDINGTALENTINALABORMARKETONTHEMOVE

10

34TheNetherlands-Soliddomesticdemandfuelsgrowth,ABNAMROBankN.V.,February27,2025

35NetherlandsLaborForceParticipationRate,StatisticsNetherlands,September2025

36DutchemploymentagencyjobsriseinQ1aslabourmarketloosens,StatisticsNetherlands,May2,2025

37NetherlandsLaborForceParticipationRate,StatisticsNetherlands,September2025

38EconomicforecastforNetherlands,EuropeanCommission,November17,2025

lifelonglearning,andre-skillinginitiativestoprepareforautomationandthegreen

transition.Foremployers,thechallengeliesinmaintainingproductivityinaslower-growingeconomywhilecompetingforscarcetalentincriticalfields.38Companiesthatinvestin

flexibilitythroughhybridworkmodels,employeedevelopment,andinclusivehiringwillbebestpositionedtonavigatetheNetherlands’evolvinglaborlandscape,wheredemandremainshighbutstabilityisslowlyreturning.

Nominalwagegrowthremainselevated,underscoringthepersistenttightnessofthe

market.Collectivelaboragreementsregisteredwageincreasesofmorethan6percent

in2024,thehighestinmorethan40years,withgrowthexpectedtohaveeasedslightly

toroughly5.1percentbytheendof2025.Despitethismoderation,employersacross

manyindustriescontinuetoraisepaytoattractandretainskilledworkers,particularlyin

sectorsfacinglong-termshortages.Domesticdemandhasproventobeastabilizingforce,buoyedbyresilienthouseholdconsumptionandgovernmentinvestmentininfrastructure

andsustainability.Exportgrowth,thoughslower,continuestocontributepositively,

especiallyinlogistics,manufacturing,andprofessionalservices.34However,global

uncertaintyandweakexternaldemandacrossEuropehavetemperedbusinesssentiment,pushingfirmstoadoptmoreflexiblehiringandcostmanagementpractices.

Laborforceparticipationremainsexceptionallyhighat76.3percent—oneofthe

highestratesintheEU.35

Signsoflabormarketadjustmentareespeciallyvisibleinthetemporarystaffingsector.Employersareusingcontingentandshort-termcontractstobalanceuncertaintywhilekeepingaccesstotalentincoreroles.36Meanwhile,laborforceparticipationremains

exceptionallyhighat76.3percent,oneofthehighestratesintheEU,driveninpartbygreaterparticipationfromwomenandolderworkers.37However,despitethebroadinclusion,manyfirmsstillfacebottlenecksinspecializedroles,withacuteshortagesintechnical,digital,engineering,andhealthcareoccupations.

Lookingahead,theDutcheconomyisexpectedtogrowbyaround1.3percentin2026,

withunemploymentedgingslightlyhighertoabout4.1percentaslabormarketpressuresease.Policymakerscontinuetoemphasizeworkforceadaptabilitythroughdigitaltraining,

InGermany,skillsgapsremainacuteinengineering,construction,healthcare,

andotherskilledtrades,makingretrainingandfasterqualificationrecognition

criticaltosustainingGermany’scompetitiveness.39

DACHREGION

AcrosstheDACHregion(comprisingGermany,Austria,andSwitzerIand),Iabormarkets

remainbroadIyresiIientdespitefacingstructuraIheadwinds.Servicescontinuetocarry

empIoymentgrowthwhiIeindustriaIsectorsnavigatetechnoIogicaItransformation,energycosts,andanagingworkforce.Yet,evenamidthesepressures,eachcountryisadapting

initsownway:GermanythroughreindustriaIizationanddigitaIpoIicyreform,AustriaviaexpandedIaborparticipation,andSwitzerIandthroughstabiIityandhighproductivity.

InGermany,theIabormarketremainstightbutuneven.TheunempIoymentratecIimbedto6.3percentinNovember,itshighestsincethepandemic,asthemanufacturingsectorshedroughIy250,000roIessince2020.40Theservicessector,includingIT,health,

Iogistics,andhospitaIity,hasabsorbedmuchofthesIack,offsettingindustriaIcontraction.Germany’supdatedSkiIIedImmigrationActexpandspathwaysforforeignprofessionaIs,aIIowingquaIifiedworkerswithvocationaIexperience,andnotjustuniversitydegrees,

toIiveandworkinthecountry.Thereformintroducesan“OpportunityCard”basedonapointssystem,easesEUBIueCardaccess,andstreamIinescredentiaIrecognitiontoattracttaIentinshortageoccupations.Despitethesechanges,skiIIsgapsremainacuteinengineering,construction,healthcare,andotherskilledtrades,makingretrainingandfasterquaIificationrecognitioncriticaItosustainingGermany’scompetitiveness.41

THEGREATRECALIBRATION:FINDINGTALENTINALABORMARKETONTHEMOVE

43Laborforceparticipationrate,totaI(%oftotaIpopuIationages15+)(nationaIestimate)-Austria,WorIdBank,September25,2025

44OId-AgePensions,RepubIicofAustria,JuIy10,2025

45UnempIoyed,seekingwork,StatisticsAustria,October1,2025

46LabourMarketInformation:Austria,EURES,February24,2025

39ThenewSkiIIedImmigrationActatagIance,MakeItInGermany,2025

40GermanunempIoymentrisesIessthanexpectedinNovember,Reuters,November28,2025

41ThenewSkiIIedImmigrationActatagIance,MakeItInGermany,2025

11

Laborforceparticipationr