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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.
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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