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.
Income inequality and relative poverty in the United States are among the highest in the OECD and have substantially increased over the past decades. These developments have been associated with a number of other worrying statistics, including low intergenerational social mobility and weak real income growth for many households.
Although job creation has improved, since the end of the 2007-08 recession, the effects of the recession on the labour market remain severe.
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Gains in female education attainment have contributed to a worldwide increase in women’s participation in the labour force, but considerable gaps remain in working hours, conditions of employment and earnings. More specific data for the United States are available in this country note.
Governments should invest more money on children in the first six years of their lives to reduce social inequality and help all children, especially the most vulnerable, have happier lives, according to the OECD’s first ever report on child well-being in its 30 member countries.