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There is nothing inevitable about high and growing inequalities, said Mr Gurría. Our report clearly indicates that upskilling of the workforce is by far the most powerful instrument to counter rising income inequality. The investment in people must begin in early childhood and be followed through into formal education and work, he added.
This book examines to which extent economic globalisation, skill-biased technological progress and institutional and regulatory reforms have had an impact on the distribution of earnings.
The jobs crisis has three particularly worrying aspects. First, the risk of unemployment becoming entrenched is more and more real in a number of G20 countries. Second, the crisis impacts disproportionately on youth. Finally, growing inequality threatens to affect social cohesion and the living standards of vulnerable families and individuals. To deal with these threats, job creation must be restarted quickly, accompanied by stronger
At this pre-G20 Event 'Growing Economies through Women’s Entrepreneurship', A. Gurría declared that 'Girls and women represent 3.3 billion ways to change this world. This is the lemma from this year’s G20 Girls Summit. It is also a powerful truth. We need to unleash this potential.'
The recent surge in social movements is a clear call for an economy with a more human face. Reconciling long-term economic growth and people’s well-being can be achieved if structural policies focus on what matters most to people in advanced and less-advanced economies alike, said Angel Gurría.
A new OECD report, How's Life, offers a comprehensive picture of what makes up people’s lives in 40 countries worldwide. This is part of the OECD’s ongoing effort to devise new measures for assessing well-being that go beyond GDP.
Urgent action must be taken by the governments to tackle high unemployment and growing inequality. Good-quality social policies, particularly those addressed to the most vulnerable, should be seen as sound investments to promote economic growth and well-being, according to Angel Gurría.
The purpose of this consultation is to develop a shared understanding of a set of data that countries should monitor in order to inform policies for children’s well-being.
Tackling the employment challenge and the rise in inequality, the most urgent issues for policy-makers, could be achieved within the current public budgets by using more in-work benefits, or improving equal access and quality of education and training said Angel Gurría.
Policies that promote job creation, better job opportunities and well-functioning social safety nets are crucial for helping the many who are still struggling to find jobs. These policies are not just spending items in a strained public budget. They are a vital social investment for the future, to help move our economies onto a path of sustainable economic growth and well-being.