FIGURE I-7 Employers having trouble filling vacant jobs . Job openings . per unemployed . . . S United States (LHS) Developed maret . U eU.S. (HS) . - s x e t e t . e a . k t r d S a e . t . d m i e n p U o . l e . v e . D Note: Data include Australia, Austria, Belgium, the Czech Republic, Finland, Germany, Japan, Norway, Portugal, Spain, Sweden, the United Kingdom, and the United States. Sources: Vanguard calculations, based on data from Thomson Reuters Datastream, as of October 31, 2022. FIGURE I-8 Long-term inflation expectations have remained anchored % Median -year-ahead expected inflation rate Median -year-ahead expected inflation rate -year expected inflation ( June June June June June June June June June June Notes: Global inflation expectations were calculated for G7 countries based on GDP weights. Subcomponent contributions were calculated on a GDP-weighted basis. For CPI subcomponent weights at the country level, 2021 weights were used for the U.S., the U.K., the European Union, and Canada; 2020 weights were used for Japan. West Texas Intermediate (WTI) spot data were used for oil prices, and WTI forward prices were used for forecast estimates. Sources: Survey of Consumer Expectations, Federal Reserve Bank of New York, and Federal Reserve Bank of St. Louis FRED database. 13
Vanguard economic and market outlook for 2023 Page 12 Page 14