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After rising steeply to a peak of 10% in the fall of 2009, the US unemployment rate has been slowly declining for more than five years. It was 5.3% in June, finally approaching it pre-crisis level of 4.8% seven and one-half years earlier. Unemployment has been even slower to decline in many other advanced countries as is reflected in the 7.0% OECD average.
Specific country notes have been prepared using data from the database OECD Health Statistics 2015, July 2015 version. The notes are available in PDF format.
In 2014, the US economy added more jobs than in any year since the 1990s. In fact, this longest streak of job growth on record has persisted into 2015. Inflation-adjusted wages are up by 1.4% annually over the last two years, more than twice the pace of the last recovery. But this is still not enough to make up for decades of subpar gains for middle-class families–a challenge shared by many other OECD economies.
As the OECD celebrates its 10th Rural Conference this edition will look at the next steps for the OECD Rural Policy Programme and consider the direction for future work.
Mr. Gurría attended the Spring meetings of the World Bank Group, IMF and G20 Finance Ministers, and held meetings with high-level officials from the US and other countries. He delivered remarks at various events and also presented the report Pensions at a Glance: Latin America and Caribbean as well as the 2015 OECD SME Scoreboard.
In his speech delivered at the Brookings Institute, OECD Secretary-General Gurría explains that OECD’s numbers tell a clear-cut story of how our traditional economic growth agenda has neglected inclusiveness. Yet to begin to tackle this problem, we have to understand that inequality is not just about money. It touches every area of people’s lives.
Low oil prices and monetary easing are boosting growth in the world’s major economies, but the near-term pace of expansion remains modest, withabnormally low inflation and interest rates pointing to risks of financial instability, according to the OECD’s latest Interim Economic Assessment.
This chapter aims to assess the degree of fragmentation in the metropolitan governance in Chicago (Illinois), United States and its impact on transport and land-use planning, and to identify possible avenues for reform.
On the occasion of the OECD High Level Policy Forum on Migration taking place on December 1 and 2 2014, Secretary General Angel Gurria congratulates President Obama on taking action to address the unsustainable situation of undocumented immigrants.
U.S. employers are demanding skilled workforces, but are not always able to find a local supply, says a new OECD study looking at Job Creation and Local Economic Development.