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Income inequality increased by more in the first three years of the crisis to the end of 2010 than it had in the previous twelve years, before factoring in the effect of taxes and transfers on income, according to new OECD data.
More than five years into an economic crisis which has taken on several names–from subprime crisis and financial crisis to great recession–no term accurately depicts the fundamental result of this economic turbulence: people facing hardship.
Data on DAC members’ aid targeting gender equality and women’s empowerment are compiled with the help of the gender equality marker in the Creditor Reporting System (CRS).
Gender equality and women’s rights are essential to achieving the unfinished business of the Millennium Development Goals (MDGs). It is time to back up political promises with action and resources. Increased investments in five key areas will have catalytic effects on the lives of women and girls, and accelerate development progress beyond 2015.
Brazil’s labour leaders have long argued against pursuing economic growth for its own sake. What matters most, they believe, is not the size of the economic pie but how it’s carved up. In recent years, calls for social justice have increasingly informed policy in Brazil, bringing about a veritable “revolution” in the economy.
The forces driving Asia’s rapid growth–new technology, globalisation, and market-oriented reform–are also fuelling rising inequality. Some income divergence is inevitable in times of fast economic development, but that shouldn’t make for complacency, especially in the face of rising inequality in people’s opportunities to develop their human capital and income-earning capacity.
Informality has important implications for productivity, economic growth, and the inequality of income. In recent years, the extent of informal employment has increased in many of Mexico's states, though highly heterogeneously.
The economic situation of young people is unsatisfactory. Educational inequalities have been widening for over a decade, due to a sharp decline in the results of the most highly disadvantaged students. The unemployment rate for the 20-24 age bracket has not dropped below 16% for nearly 30 years.
By helping emphasise the importance of a “better life” as a key component of societal progress, the OECD has made considerable efforts in recent years to help promote a school of thought that places people’s well-being at the heart of economic growth.
The unemployment rate among young people has reached painfully high levels, in particular among those young people with low levels of education.