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Urgent action must be taken by the governments to tackle high unemployment and growing inequality. Good-quality social policies, particularly those addressed to the most vulnerable, should be seen as sound investments to promote economic growth and well-being, according to Angel Gurría.
Tackling the employment challenge and the rise in inequality, the most urgent issues for policy-makers, could be achieved within the current public budgets by using more in-work benefits, or improving equal access and quality of education and training said Angel Gurría.
Policies that promote job creation, better job opportunities and well-functioning social safety nets are crucial for helping the many who are still struggling to find jobs. These policies are not just spending items in a strained public budget. They are a vital social investment for the future, to help move our economies onto a path of sustainable economic growth and well-being.
Joining the world of work has been a rite of passage for centuries. But what does working life in the 21st century look like – and what are the social and economic consequences of a world where, for millions, no job and no immediate prospect of one marks the transition to adulthood?
The challenges of tackling high and persistent unemployment, especially for the young people, improving job opportunities and ensuring adequate social safety nets should be at the top of the political agenda, said OECD Secretary-General Angel Gurría.
The OECD area unemployment rate was steady at 8.2% in July 2011, unchanged for the fifth consecutive month.
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.