You're noticing something real across developed economies right now—unemployment rates have pretty much stabilized at low levels almost everywhere. Walk through the US, Europe, Japan, Australia and you see the same pattern: tight labour markets, limited joblessness. It's striking when you think about it. There's no single explanation for this convergence. Multiple forces are at play simultaneously. Some regions benefited from strong post-pandemic recovery momentum. Others are dealing with structural demographic shifts that simply reduced available workforce supply. Technology adoption and automation reshaped hiring patterns in different ways across countries. Monetary policy responses varied but ultimately produced similar employment outcomes. Meanwhile, migration patterns and cross-border talent flows created unexpected labour dynamics. Worth asking yourself what happens next when these conditions eventually shift.