The 6% decline in global GDP that we project for 2020 in our most recent Economic Outlook is larger than any other decline in the 60 years of OECD’s existence. And in case of a second wave of infections, global GDP could decline by more than 7.5%.
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The average monthly decline in hours worked in Japan was 7.9% in the first three months of the COVID-19 crisis, compared to a decline of 2.6% during a comparable period in the the Global Financial Crisis. While the decline was smaller than in some other countries, total hours worked in April were almost 19% below their peak at the end of 2019.
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This note provides a comprehensive overview of the extent to which laws in Japan and OECD countries ensure equal treatment of LGBTI people, and of the complementary policies that could help foster LGBTI inclusion.
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The tax wedge for the average single worker in Japan remained the same at 32.7 percentage points between 2018 and 2019. The OECD average tax wedge in 2019 was 36.0 (2018, 36.1).
This newsletter contains information about work on competition law and policy in the Asia-Pacific region that is taking place within the framework of the OECD-Korea Policy Centre Competition Programme.