Global economy | Social challenges

Too many jobs, not enough workers

29/08/2022 GIF

The labour market recovery from the COVID-19 pandemic has been strong in most OECD countries, to a large extent reflecting massive and unprecedented policy support to workers and firms in advanced economies.

But as a result of this strong recovery, job offers are going unanswered amongst a tighter labour market, especially in the Anglophone countries.

On average across the OECD, vacancy rates have increased the most in manufacturing industries (slide 1) and in accommodation and food (slide 2). Attracting workers in these industries has become a challenge as the pandemic has drawn attention to the low quality of many such jobs, often characterised by low pay, low job security, poor working conditions and inadequate social protection.

A number of countries have also been facing recruitment tensions in health and care-related jobs for similar reasons, aggravating shortages prevalent even before the pandemic.

Read the paper: The post-COVID-19 rise in labour shortages