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The OECD area employment rate – defined as the share of people of working-age who are employed – was 65.0% in the third quarter of 2012, unchanged from the previous quarter and 0.2 percentage points higher than one year ago.
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This study looks into the use of fixed term contracts and agency work in Russia during and shortly after the crisis 2009 10 with the help of an enterprise survey.
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The well performing labour market has delivered low unemployment and relatively stable wage developments.
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The global crisis led to a smaller increase in the unemployment rate than in most other OECD countries as employment has been sustained through intensive use of reduced working time schemes.
The OECD unemployment rate was stable at 8.0% in November 2012, unchanged from the previous month.
Unit labour costs (ULCs) in the OECD area rose by 0.2% in the third quarter of 2012, driven by continued increases in labour compensation per unit of labour input.
The euro area crisis finds its roots in the credit booms seen in many countries following the introduction of the euro in 1999. Easy credit led to strong growth in a range of sectors, notably housing, as well as higher levels of public spending. Inflation in these over-heating economies was higher than the euro area as a whole. Rising prices led to rising costs and a loss of international competitiveness.
Australia’s labour market reforms over the past 15 years have boosted employment and cut welfare benefit dependency.
The OECD unemployment rate rose by 0.1 percentage point to 8.0% in October 2012 compared to the previous month.
An interview with Sigbjørn Johnsen, Minister of Finance, Norway.
High female participation in the workforce has a decisive effect on a country’s performance, as Norway shows.