OECD Employment Outlook 2012: chapter summaries
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The US labour market continues its slow recovery from the 2008-09 recession, but the unemployment rate remains significantly higher than before the financial crisis
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The UK economy has been broadly flat over the past two years. Employment has risen slightly, while the unemployment rate has stayed close to 8%. Projections in the 2012 OECD Employment Outlook foresee some increase in the unemployment rate that could even reach 9% in 2013.
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Despite some decline in the number of registered unemployed in June, high levels of unemployment in Spain are set to persist in the short-run, given its weak economic growth prospects.
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Mexico has experienced a stronger economic recovery than most other OECD countries accompanied by strong employment growth.
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The Korean labour market continues to perform well after a quick recovery from the global economic crisis. Korea’s unemployment rate was 3.2% in May 2012, 0.2% point lower than a year earlier, and nearly down to its pre-crisis level of 3.1%.
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The labour market recovery in Japan began strongly but has weakened since.
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Employment outlook 2012 Did you know excel
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.
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Italy has been hit hard by the crisis and unemployment may rise further. The recent recession hit the Italian economy hard with the country experiencing a large fall in GDP at the height of the crisis in 2009