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The OECD area unemployment rate was steady at 8.1% in May, unchanged for the third consecutive month.
What individuals know and can do has a profound impact on the competitiveness, productivity and social cohesion of their countries. But most importantly it has an impact on the quality of their lives; on their achievements and self-fulfilment, according to OECD Secretary-General Angel Gurría.
Sustaining economic growth is certainly important to promote social cohesion but growth alone cannot solve all problems. Instead, well-targeted social policies are essential to promote social cohesion and reverse the upward trend in income inequality. This is the “go social” challenge facing Korea, said OECD Secretary-General in Seoul.
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This report was prepared to help Korea identify and address main social policy challenges. It suggests specific policy options and a strategy to “go social”, based on the practices and reforms that have worked well in other countries.
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The OECD area unemployment rate dropped to 8.1% in April, a 0.1 percentage point fall from March after two months of stability at 8.2%. This is a continuation of the steady decline in the unemployment rate seen since October 2010. The Euro area unemployment rate was stable at 9.9%.
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Challenges with respect to trade and jobs – and the interface between the two issue areas – remain near the top of policy agendas for OECD members and partner countries around the world. Globalisation has been a critical force driving increased economic integration and structural change, resulting in greater employment opportunities and welfare, but also creating adjustment difficulties including in the labour market. Through its deep
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In a context of high unemployment following the crisis and increased global competition, ensuring an adequate supply of skills, maximising their use and optimising further development of skills in the workforce is key to boosting employment and economic growth, and to promoting social inclusion. Skills are thus high on the agenda, nationally and internationally. Public spending on education and training already represents around 13%
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The 2011 Meeting of the OECD Council at Ministerial level is the first milestone in the Gender Initiative, which was launched by the OECD to help governments promote gender equality in Education, Employment and Entrepreneurship (the “three Es”).
Mr. Gurría underlined the importance of tackling the challenges of unemployment and inequality. He said: “we need a more inclusive and greener model of growth based on sound institutions… And we must focus even more in our relations with social partners to reach such joint goals”.