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Uncertainty faced by households and firms affects economic activity. The rise in uncertainty since the beginning of the sovereign debt crisis in Greece could be one factor that has contributed to the steep and long-lasting recession. This paper presents a brief empirical analysis quantifying this phenomenon and compares it with developments in Ireland and Portugal.
House prices have increased significantly in Canada over the past decade, driving household debt and residential construction activity to historical highs.
Since around 2007, the country has been enjoying an “energy renaissance” thanks to its abundant stocks of shale oil and gas. The resurgence in oil and gas production is beginning to create discernible economic impacts and has changed the landscape for natural gas prices in the United States, boosting competitiveness.
Despite relative affluence, workplace stress is a prominent feature of the US labour market. To the
extent that job stress causes poor health outcomes – either directly through increased blood ressure,
fatigue, muscle pain, etc. or indirectly through increased rates of cigarette smoking – policy to lessen job stress may be appropriate.
Life is quite good in the United States compared to other OECD countries, thanks to strong economic
growth and technological progress having lifted average income to high levels. Nonetheless, there is
evidence that the benefits from growth have not been sufficiently broad based.
Demand for jobs, characterized by skill type and industry of employment, is driven by changes in technology, trade and consumption. Using structural decomposition analysis, we study the relative importance of these drivers for the period 1995-2008.
Unfavourable demographic trends in many OECD countries threaten the sustainability of potential labour resources, GDP growth and fiscal positions. One factor that is expected to mitigate these trends is continued inflows of migrant workers from low income economies.
Income and earning inequality has been on the rise in most of the OECD and in many emerging economies since the 1980s. This paper estimates a model of earnings inequality across OECD countries that incorporates determinants of relative demand and supply of more and less-skilled labour.
Swiss women are now as well educated as their male counterparts. However, progress remains to be made in the job market where both the supply and price of female labour are below that of men.
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.