The G20 needs to go structural, social, and green! With fiscal and monetary policy room nearly exhausted, structural reforms are the best choices, sometimes the only choice. The OECD battle cry in this regard has been unchanged since 2008: “go structural!”.
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.
Tackling the epidemic of unemployment and underemployment that OECD countries have been facing since the first years of the crisis has been one of the top priorities at the OECD. In recent years, real wages have grown slowly, or even declined, bringing further hardship. Better policies for more and better jobs are needed.
Un mensaje claro que resulta de este Foro es que, a pesar de algunos signos de mejora, seguimos teniendo una enorme tarea por delante. Nuestras últimas proyecciones estiman que la tasa de desempleo para el conjunto de la OCDE caerá de 7,7% a finales de 2013 a 7,1% a finales de 2015.
Les ministres décrivent leur objectif commun d’accroître la résilience de nos économies en plaçant la formulation des politiques publiques dans une perspective multidimensionnelle, pour parvenir à mieux appréhender les arbitrages, les complémentarités et les conséquences non intentionnelles des choix stratégiques opérés.
After six long years of pain and fear, the major advanced economies are finally building momentum. While two of the four cylinders of the global economy’s growth engine – credit growth and emerging market activity – are still running below full speed, there are encouraging signs that the other two, trade and investment, are finally warming up.
It is a real pleasure to be back in Brasilia to launch “Investing in Youth: Brazil”. One of Brazil’s greatest assets is its relatively young population. But you can reap a demographic dividend only if the environment is right for harnessing the potential and the talents of the young generation.
There is no simple remedy for fixing the post-crisis global economy. But three key ingredients for sustainable long-term growth are jobs, equality and trust, said OECD Secretary-General in Washington.
While unemployment is gradually declining in the United States, Mexico and Japan, it is increasing in the Euro area. In emerging economies, tackling low paid employment in insecure jobs with little social protection remains a key challenge.
This report comes at a crucial time, as the economic recovery remains hesitant and uneven, and when over 48 million people are still out work in the OECD area. Unemployment is a social tragedy that we urgently need to address.