A large and persistent shortfall in the number and quality of the jobs being created in G20 countries is affecting prospects for re-igniting economic growth, according to a report prepared by the ILO, the OECD and the World Bank Group for the G20 Labour and Employment Ministers meeting taking place in Melbourne this week.
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Unemployment rose substantially in the Slovak Republic as a result of the crisis and has only declined slowly since reaching a peak of 14.8% of the labour force in early 2010. At 13.3% in August 2014, the unemployment rate remains one of the highest among developed countries and is twice as high as the OECD average.
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Poland’s employment rate at 61% (Q2 2014) remains well below the OECD average but, in contrast to many other countries, it has increased slowly since the onset of the economic crisis (from 57.9% in Q1 2007).
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Hungary was hit harder by the global crisis than most OECD countries. Unemployment reached record levels at the peak of the crisis but has since recovered to its pre-crisis level around the current OECD average of 8%.
Unemployment will remain well above its pre-crisis levels next year in most OECD countries, despite modest declines over the rest of 2014 and in 2015, according to a new OECD report.
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Switzerland has high employment rates and low unemployment. The overall employment rate remained stable since the start of the crisis and stands at 79% (first quarter of 2014), the second highest in the OECD after Iceland, well above the OECD average of 65.6%. As for unemployment, among OECD countries only Japan, Korea, and Norway have lower unemployment rates.
This paper presents a productivity growth measure that explicitly accounts for natural capital as an input factor and for undesirable goods, or “bads”, as an output of the production process.
The UK labour market weathered the recent recession moderately well. After a relatively limited fall, total employment recovered and it recently reached 30 million for the first time, even if a number of the new jobs created are low productivity and low paid.
Canada has experienced solid economic growth since the global crisis, allowing it to reverse recession-induced job losses and put federal public finances on a sound footing, says the OECD. Growth is expected to accelerate from 2.5% this year to 2.7% in 2015.
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The Irish government has taken resolute action to address the unemployment challenge, launching the Action Plan for Jobs (APJ) initiative in early 2012. Drawing on the expertise and experience of OECD member countries, this preliminary review examines key aspects of the Action Plan for Jobs and highlights some key policy priorities to boost job creation.