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OECD Secretary-General assesses the employment challenges facing Europe and the policy responses urgently needed to put the continent back on a path of jobs-rich growth, at the Employment Policy Conference in Brussels.
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At 6.2% in July, the US unemployment rate is back where it was in September 2008 when the bankruptcy of Lehman Brothers signalled an intensification of the recession that had already been underway since the end of 2007.
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Ireland’s workers suffered badly during the economic and financial crisis. The unemployment rate more than tripled from 4.6% in Q1 2007 to its peak of 15.1% in Q4 2011. The situation was even more drastic for 15-24 year olds. The youth unemployment rate rose from 8.8% to just over 31% in the first half of 2012, with a substantial increase in the number of youth not working and not in education or training.
Governments should use every possible means at their disposal to help jobseekers, especially young people, by removing barriers to job creation and investing in their education and skills. The young are at most risk of long-term damage to their careers and livelihoods, said Angel Gurría.
Employment: OECD sees high jobless rates continuing - more must be done urgently to boost job creation and help jobseekers
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Breaking down barriers to gender equality in education, employment and entrepreneurship would create new sources of economic growth and help make better use of everyone’s skills, according to this new OECD report.
Breaking down barriers to gender equality in education, employment and entrepreneurship would create new sources of economic growth and help make better use of everyone’s skills, according to a new OECD report.
The OECD has launched its Skills Strategy to help governments build economic resilience, boost employment and reinforce social cohesion. Despite the pressure on public finances, spending on education and skills is an investment for the future and must be a priority.
More than ever promoting the creation of sufficient quality jobs for the many unemployed and under-employed, including many youth, is the key policy priority for all G20 countries said A. Gurría, OECD Secretary-General.
All our established certainties about the economy and how best to regulate it have been shaken to the core by the Great Recession. It is forcing a radical rethink about our underlying economic models and how appropriate they are in the current context, said the OECD Secretary-General.