Turkey’s business sector dynamism has underpinned broad-based and inclusive growth in the 2000s. However, the business sector is highly segmented, with a relatively small core of modern high-productivity corporations, and myriad small, less formal and low-productivity entities.
How to stimulate growth and support job creation are two critical challenges that countries confront following the global financial crisis. The Local Economic and Employment Development (LEED) Programme of the OECD has developed international cross-comparative reviews on local job creation policies to examine the contribution of local labour market policy to boosting quality employment. Each country review examines the capacity of
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This policy brief is a result of a joint European Commission and OECD research project over three years on Matching Economic Migration with Labour Market Needs.
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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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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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During the global economic crisis, China’s unemployment rate (in urban areas) remained almost unchanged despite the slowdown in the real economy. The unemployment rate peaked at 4.3% in 2009, only 0.3 percentage points above the pre-crisis level, while the real GDP growth rate fell from 14.2% in 2007 to 9.2% in 2009.
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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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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.
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Report prepared by the ILO, IMF, OECD and World Bank for the G20 Labour and Employment Ministerial Meeting Melbourne, Australia, 10-11 September 2014