While countries like the U.S., UK, Canada, India, Ireland, and Singapore show more signs of slack as labor market tightness gradually approaches pre-pandemic levels, several European nations continue to face tighter conditions compared to their pre-pandemic baseline. This cooling trend suggests a potential shift in the balance of power, indicating that workers are experiencing reduced influence in the job market. Consequently, this development may contribute to a slowdown in wage pressure and inflationary pressures.