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The euro area crisis finds its roots in the credit booms seen in many countries following the introduction of the euro in 1999. Easy credit led to strong growth in a range of sectors, notably housing, as well as higher levels of public spending. Inflation in these over-heating economies was higher than the euro area as a whole. Rising prices led to rising costs and a loss of international competitiveness.
Australia’s labour market reforms over the past 15 years have boosted employment and cut welfare benefit dependency.
The OECD unemployment rate rose by 0.1 percentage point to 8.0% in October 2012 compared to the previous month.
An interview with Sigbjørn Johnsen, Minister of Finance, Norway.
High female participation in the workforce has a decisive effect on a country’s performance, as Norway shows.
These country notes profile public sector human resource practices and policies, covering issues including legal frameworks; age and gender composition of workers; public sector restructuring; management practices; industrial relations and reforms.
The OECD unemployment rate was 7.9% in September 2012, broadly the same rate observed since January 2011.
The OECD area employment rate was 65.0% in the second quarter of 2012. This figure is 0.1 percentage point higher than in the previous quarter and 0.2 percentage point higher than one year ago.
During his official visit to India, OECD Secretary-General Angel Gurría will participate in an interactive session with Indian industrialists to discuss the global economic situation, the outlook for the Indian economy and the OECD-India cooperation.
Today many local communities are confronted with the challenge of reducing high and persistent unemployment and defining new sources of economic growth, all in the context of shrinking public resources. The event gathered representatives of ministries responsible for regional development and employment from Latvia, Lithuania and Estonia and selected OECD countries to exchange on approaches that work in addressing these challenges.
The OECD unemployment rate was at 7.9% in August 2012, broadly the same rate observed since January 2011.