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The OECD Secretary-General, Angel Gurria, congratulates Prime Minister Renzi on the passing by the Italian Senate of a bill enabling the government to elaborate a comprehensive reform of the labour market – the so-called Jobs Act.
OECD unemployment rate falls to 7.3% in August 2014
How can governments ensure that migration and free movement of workers contribute to meeting the labour market shortages that are expected to arise over the next 50 years? How can societies better use the skills of their migrants? What lessons can non-European OECD countries offer Europe, particularly regarding labour migration management? “Matching economic migration with labour market needs” addresses these questions.
Unit labour costs (ULCs) in the OECD area rose by 0.5% in the second quarter of 2014, compared with 0.9% in the previous quarter.
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The unemployment rate in Indonesia continues to trend downwards. At 5.7% in Q1 2014, Indonesia’s unemployment rate is considerably below the levels observed in 2007 (above 9%). It is also now well below the OECD average of 7.4%.
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The South African labour market continues to perform poorly compared to OECD and other G20 countries, and the global financial crisis appears to have worsened the situation.
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The unemployment rate in Brazil continues its downward trend, despite a slowdown in GDP growth. At 4.9% (for urban areas), Brazil’s unemployment rate is considerably below the OECD average of 7.4%.
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New Zealand was hit hard by the crisis but the economy has gained momentum and the labour market is improving. The employment rate has risen steadily in the past two years and has reached its historical pre-crisis high. Consequently, unemployment has fallen.
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India’s economic growth has slowed since 2010 in the aftermath of the global crisis, but growth is expected to pick up according to the May 2014 projections of the OECD Economic Outlook. The unemployment rate was 3.6% in 2012 in India, lower than in 2006 (4.4%) before the onset of the global financial crisis.
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.