Low oil prices and monetary easing are boosting growth in the world’s major economies, but the near-term pace of expansion remains modest, withabnormally low inflation and interest rates pointing to risks of financial instability, according to the OECD’s latest Interim Economic Assessment.
According to new OECD data, Canada has a highly educated population, due in large part to high attainment rates at the college level. Furthermore, Canadian adults rank near the OECD average on foundational skills development, while Canadian youth rank above average.
English, PDF, 162kb
Canada did not suffer as much during the 2008-2009 global recession as most other countries and its economy has since rebounded sharply. The employment rate among workers aged 15-64 stood at 72.2% in the second quarter of 2014, 1.4 percentage points below its level at the start of the global financial crisis compared with 2.5 percentage points deficit at the worst point of the crisis.
House prices have increased significantly in Canada over the past decade, driving household debt and residential construction activity to historical highs.
English, PDF, 662kb
The ability to measure innovation is essential to an improvement strategy in education. This country note analyses how the practices are changing within classrooms and educational organisations and how teachers develop and use their pedagogical resources.
Skills shortages have developed in certain fields and regions in recent years. Earnings premiums for people in some professions, notably health, engineering and skilled trades have increased.
Specific country notes have been prepared using data from the database OECD Health Statistics 2014, June 2014 version. The notes are available in PDF format.
Canada has experienced solid economic growth since the global crisis, allowing it to reverse recession-induced job losses and put federal public finances on a sound footing, says the OECD. Growth is expected to accelerate from 2.5% this year to 2.7% in 2015.
As advanced economies struggle to consolidate recovery from the deepest financial crisis in modern times, promoting innovation becomes critically important to develop new products, new services, and new ways of doing thing, said OECD Secretary-General.
To tackle rising inequalities we need to reassess the way in which our economies grow. By placing inclusiveness at the heart of the growth debate we can open up opportunity so that every citizen can realise their potential, to contribute to, and benefit from, more equitable economic growth, said OECD Secretary-General.